The €3.2bn transaction will see Aviva France transfer into the ownership of Aema Groupe, a new company which was formed through a merger earlier this year. Last autumn the business sold off its Vietnamese unit, as well as an Italian arm in November for £355m and the Singapore business for £1.6bn two months earlier. "Aema Groupe has a strong heritage in the French insurance industry and this transaction will propel it to a top five position in the French market. "I am confident Aema Groupe will be an excellent owner of Aviva France." Employees at Aviva France will transfer with the business to the new ownership, and Aviva France will continue to operate as a standalone part of Aema Groupe.

Source: Irish Independent February 23, 2021 11:14 UTC