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.
Whilst the world learns to adapt to the ‘new normal’ with the impacts of Covid-19, Ashbourne Insurance of Hoddesdon has been working …
24 Nov 2020
Helping you to understand the financial support now available during the pandemic – and how to get it. The most recent changes …
13 Nov 2020
Many firms are struggling to forge a path forward amidst the continuing uncertainty of the Covid-19 crisis and its wider social and …
4 Nov 2020