Group acquired the “operationally challenged” business in 2006 for £2bn
Aviva is considering selling its life assurance business in the US in a move which could raise at £1bn, according to the FT.
Aviva group chief executive Andrew Moss reportedly told a group of investment managers at a recent meeting that it could consider offers for the business.
Aviva acquired the majority of the business in 2006 for approximately £2bn, including debt.
Analysts believe the disposal of its US business could be part of a core strategy for improvement as the group’s shares still trade at a valuation discount to sector peers.
According to the FT, the group’s chairman-in-waiting John McFarlane is due to take on the role at the end of June, which analysts believe could prompt a strategy shift.
A US exit would be the ninth market that Aviva has left under the guise of a strategic overhaul.
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