Aviva Sells Off Poland Unit To Rival Allianz For €2.5B

Law360, London (March 26, 2021, 4:44 PM GMT) -- British insurance giant Aviva PLC said Friday that it will sell its Polish business unit to Allianz SE for €2.5 billion ($3 billion), as it completes the trimming down of its international portfolio.

The London-based insurer said it will now focus its attention on its U.K., Ireland and Canada businesses, after selling off eight subsidiaries in as many months.

Aviva said it has raised £7.5 billion ($10.3 billion) from a reduction of its international footprint, following a change of management last year.

"The sale of our Polish business is an excellent conclusion to the refocusing of our portfolio announced just eight...

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