Aviva takeover – who could be in the frame?

Aviva takeover – who could be in the frame? | Insurance Business Canada

Insurance News

Aviva takeover – who could be in the frame?

Market chatter points to potential sale, according to a report

Insurance News

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Insurance Business

Allianz and Intact are considering their options where it comes to an Aviva takeover, The Times has reported.

An American insurer is also in the frame, The Times reported, citing City sources.

At least one of Allianz and Intact is said to be mulling a £6 per share proposal for Aviva, according to the report.

Shares in UK-headquartered Aviva jumped on the news, rising upwards of 10% on Friday from the market’s open. However, this dampened somewhat as analysts queried the veracity of market chatter.

Speculation also boosted other FTSE100 insurers, The Times reported, with Phoenix up 2.27%, Prudential up 2.85% and Legal & General gaining 4.11%.

Aviva, which reported rising operating profit of £715 million for the first half of 2023, has trimmed down its operations under Aviva CEO Amanda Blanc to focus on its UK, Ireland and Canada businesses.