Search

Norwich Weather

Partly Cloudy

Partly Cloudy

max temp: 4°C

min temp: 1°C

Aviva leaves Russia after £30m deal

PUBLISHED: 18:46 27 February 2013 | UPDATED: 18:46 27 February 2013

Mark Wilson has been appointed the chief executive of Aviva

Mark Wilson has been appointed the chief executive of Aviva

Archant

Insurance giant Aviva yesterday announced a £30m sale of its Russian business.

The deal with Blagosostoyanie, a non-state pension fund in Russia is another boost to the balance sheet for Aviva ahead of its end of year results next week.

Aviva is carrying out a fire sale of the underperforming parts of the business as part of a strategy to narrow its focus on the best parts of the business, where it enjoys ‘market leadership’ and has already announced a raft of sales including operations in the US, Spain, and Malaysia.

Mark Wilson, chief executive, said: “We are pleased to have agreed the sale of our life and pensions operations in Russia to Blagosostoyanie.

“This transaction builds on the progress we have made to narrow Aviva’s focus.”

Search hundreds of local jobs at Jobs24

Show Job Lists

Most Read

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to receive our regular email newsletter