Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Allianz-led consortium in advanced talks to take on Aviva's French arm: sources

Published 09/24/2020, 11:45 AM
Updated 09/24/2020, 11:50 AM
© Reuters. The Aviva logo sits outside the company head office in the city of London

By Pamela Barbaglia, Alexander Hübner and Arno Schuetze

LONDON/MUNICH/FRANKFURT (Reuters) - A consortium of German insurer Allianz (DE:ALVG) and private equity-backed life insurer Athora Holding is in advanced talks to take on Aviva 's (L:AV) French operations in a deal worth 2 billion to 3 billion euros ($3.49 billion), sources close to the matter said.

Aviva is working with JPMorgan (N:JPM) and Rothschild on selling the unit which provides life insurance to French clients, the sources said.

The business has also drawn interest from Axa (PA:AXAF), Assicurazioni Generali (MI:GASI) and French mutual insurer La Mondiale among others, the sources said.

Aviva said in a statement that it was "in the very early stages of developing its strategy for its continental European and Asian businesses."

Allianz, Athora, Axa, Generali and the banks declined to comment.

($1 = 0.8591 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.