Aviva is mulling a possible piecemeal sale of its Italian insurance business, sources close to the matter said.
The company’s Italian business is comprised of two joint venture agreements centered on life insurance and general insurance. One distribution agreement is with UniCredit – which expired this year. The other bancassurance partnership was with Italian financing company UBI Banca.
Sources told Reuters that both joint venture platforms are being reviewed as part of Aviva’s sale plans. One of the sources also said that UniCredit is looking to take full control of the venture ahead of a possible exit in the future.