Aviva is considering a £650m takeover of the Co-op Group’s insurance arm, according to the Sunday Times.
Deutsche Bank has been appointed to sell the insurance business and so far has interest from several potential buyers. In addition to Aviva, Ageas and entrepreneur Edmund Truell have both shown an interest in the business.
Aviva’s interest comes following the announcement last week that it is cutting 2,000 jobs as part of an on-going cost-cutting exercise.
The Co-op is selling its insurance business in order to fund the acquisition of 632 branches from Lloyds Banking Group. The bank was ordered to sell the branches by the European Commission.
I think that our industry has a lot to answer for in the way they have advertised and promoted insurance to customers …
25 Feb 2020
The Spotlight Theatre in Hoddesdon, Hertfordshire was the venue for the ‘Ambition 2019 Inspiring Business Success Conference’ which was organised by local …
14 Feb 2020
The advice that you receive when buying your insurance, particularly for a business, should be about more than just the best price …
13 Feb 2020