What are the big stories hitting the headlines this week?
Chop
Aviva plans to shed 384 more jobs, taking the total number of job cuts announced in one month in the UK and Ireland to 1,500. The shake-up follows the expiry of a life and savings joint venture with The Royal Bank of Scotland. Aviva said it would find new roles for affected employees where possible.
Acquisition
Barclays Private Equity was sold to Equistone Partners Europe for £45m. The deal will transfer high street broker A-Plan over to Equistone. A-Plan chief executive Carl Shuker said it was “business as usual” and the deal would not have any effect on operations.
Sale
Groupama is understood to be looking at selling some of its assets to beef up capital adequacy eroded by the eurozone crisis. AXA and French mutual giant Covea are interested in buying Groupama’s assets.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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