![]() For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. Blanc has talked about “big opportunities” in expanding private health cover in the UK as NHS waiting lists hit a record high.Īviva bought the US insurer AIG’s UK protection business for £460m last week, Blanc’s biggest deal so far, and is the preferred bidder with partners to build a large cancer research and treatment campus in Sutton, south London. In August, Aviva posted an 8% rise in operating profit to £715m for the first half of the year and raised its dividend. Allianz is the second-largest player in the UK general insurance market, behind Aviva, and any combination would probably trigger a competition inquiry.Īnalysts at JP Morgan said the Aviva chief executive, Amanda Blanc, had transformed the insurer into a “highly investible company”, but thought that any takeover would be complicated.Īviva’s share price has risen by 50% since Blanc became chief executive in July 2020, although it is down 9.1% so far this year.īlanc has sold off most overseas businesses to focus on the UK, Ireland and Canada. This means a deal with Intact could raise competition concerns. In Canada, it is the second-biggest insurer, behind Intact, with a range of general insurance products and an 8% market share. It is the largest life insurer, with a 20% share of the market, and the No 1 general insurer, with a 10% slice of the market. With Tryg, the largest general insurer in Scandinavia, the Canadian firm bought the RSA Insurance Group, the owner of the More Than brand, in a £7.2bn deal in 2021, which resulted in the breakup of the 300-year-old company.Īviva offers pensions, life and health insurance, car, home and travel cover and has 15.5 million customers in the UK. Intact, Canada’s largest property and casualty insurer, has been on a buying spree in the UK, snapping up Direct Line’s brokered commercial business for £520m last month. There was no statement from Aviva or any of the other companies. It has previously been linked with Germany’s biggest insurer, Allianz, while Canada’s Intact Financial Corporation and the Danish insurer Tryg are reportedly considering their options, along with a US insurer, with a £6-a-share proposal mooted, according to the Times.Ī City source told the Guardian there had been some discussions with suitors.
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