ALLIANZ, NN and GENERALI are interested to buy the Polish AVIVA unit

1 March 2021 — Andrei Victor
Interational media wrote that the UK group insurer AVIVA intends to exit the Polish insurance market. German insurer ALLIANZ, the Dutch financial group NN and the Italians from GENERALI are the potential buyers, Reuters reported .

"AVIVA has pushed back the deadline for final offers for its Polish operations to late March as the British insurer is still haggling with Spanish lender Santander over the renewal of a key distribution agreement in Poland", sources told Reuters.

According to the mentioned source, "three bidders, including Dutch insurer NN Group and Italy's GENERALI, are vying for the unit which is worth about EUR 2 billion, three sources familiar with the matter said, speaking on condition of anonymity. Germany's ALLIANZ is also in the race after missing out on AVIVA's French business, which was snapped up by mutual insurer AEMA Groupe for 3.2 billion euros on Tuesday, the sources said".

At the end of January 2021, British insurer AVIVA has set deadlines in late February to receive final offers for its operations in France and Poland that are worth an overall EUR 5.5 billion (click here to read more).

Last week, AVIVA has approved the sale of its French Business for EUR 3.2 billion in cash to AEMA Groupe in order to follow its strategic transformation and focus on the strongest businesses in the UK, Ireland and Canada (mode details here).

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