Aviva Leaves Turkey With £122M Sale Of Local Unit

Law360, London (February 24, 2021, 4:20 PM GMT) -- Insurance giant Aviva stepped up its international shake-up on Wednesday, announcing that it will sell its Turkish business for £122 million ($172 million) to Ageas Insurance International NV.

The British insurer said it has agreed to sell its entire 40% shareholding of AvivaSA Emeklilik ve Hayat AS, known as Aviva SA, to Ageas, which is headquartered in Belgium.

The deal sees Aviva's joint venture partner Sabancı Holding retain its 40% shareholding, the U.K. insurance giant said. It added that the deal would boost the capital buffer it was required to hold on to under Europe's Solvency II Directive by £100 million....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!