Aviva has completed the sale of its French business to Aéma Groupe for a £2.8 bn (€3.2 bn) cash consideration offer.
Aviva plans to focus on its businesses in the UK, Ireland and Canada while Aéma, born out of a Macif and Aésio Mutuelle merger in January 2021, is now the 5th largest French insurer.
Aviva Group CEO Amanda Blanc says: “This is a very significant step forward for Aviva. It greatly simplifies the company as we focus on our core businesses in the UK, Ireland and Canada. I am confident that Aéma, with its strong insurance heritage and reputation, will be an excellent tower of Aviva France. I wish the business and all its people every success for the future.”
Aéma Groupe deputy CEO Jean-Philippe Dogneton says: “The arrival of Aviva France in our group will nourish our diversity and give us new responsibilities towards policyholders, members and customers with whom we deal on a daily basis. This acquisition will make it possible to strengthen the synergies of skills and expertise and the complementarities of know-how.”