Aviva com­pletes exit from Spain

Yorkshire Post - Business - - BUSINESS / NEWS -


In­sur­ance giant Aviva has com­pleted its exit from the Span­ish mar­ket after sell­ing its en­tire stake in life in­sur­ance and pen­sions joint ven­tures Ca­ja­mur­cia Vida and Caja Granada Vida to Bankia for £ 179 mil­lion.

It has also agreed the sale of its 50 per­cent share­hold­ing in Span­ish life in­sur­ance op­er­a­tion Pe­layo Vida to San­talu­cia.

Speak­ing ear­lier this year, Mark Wil­son, the chief ex­ec­u­tive of Aviva, said: “This sale is a strong re­turn for our share­hold­ers.”

Aviva em­ploys around 2,000 peo­ple in York and 1,500 staff at its health in­sur­ance op­er­a­tion in Sh­effield .

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