Aviva today announced that it has agreed to sell its entire 80% shareholding in the Italian life insurance joint venture, Aviva Vita to its partner UBI Banca. Aviva said the transaction represents "another important strategic milestone" as international insurer seeks to refocus its portfolio. Upon completion, Aviva will receive €400m in cash. In 2019, Aviva Vita's IFRS profit after tax was £523 million and it did not pay a dividend. The gross assets of Aviva Vita were £16.32bn as at 30 June 2020. The proceeds will be used to further strengthen Aviva's central liquidity and will ...
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