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Aviva Sells Spanish Holdings For Solvency II Capital Boost

Law360, London (February 23, 2018, 12:21 PM GMT) -- The U.K.’s largest insurer, Aviva PLC, announced on Friday that it has sold its entire shareholdings in two of its joint ventures in Spain, allowing it to boost its capital surplus by approximately £150 million ($209.5 million) and meet Solvency II requirements.

Aviva said it will sell its 50 percent share in Cajamurcia Vida y Pensiones de Seguros y Reaseguros, S.A. and its 25 percent share in Caja Granada Vida, Compania de Seguros y Reaseguros, S.A. — both life insurance and pensions firms — to Spanish...
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