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Aviva today announces the sale of Aviva Czech Life, Aviva Hungary Life and Aviva Romania Life & Pensions ("the businesses") to MetLife, Inc. This transaction is consistent with Aviva's strategy to focus on markets where it has strength and scale. The transaction, which is subject to regulatory approvals in each jurisdiction, is expected to be completed during 2012. As at 30 June 2011, the combined net assets of the businesses were approximately €57 million. Andrew Moss, group chief executive of Aviva, said: "We are pleased to have agreed the sale of our businesses in Czech Republic, Hungary and Romania to MetLife. This transaction is another step to further focus the group on our priority markets." |
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