RSA, Zurich, Allianz and Resolution planned to split Aviva
RSA, Resolution, Zurich and Allianz discussed taking over and splitting up Aviva, The Times reports.
- RSA would take the UK general insurance business (as previously reported)
- Resolution would take the domestic life and pensions business and Aviva Investors
- Zurich and Allianz would share the European and Asian businesses
The plan fell when Resolution did not get the valuation needed after it had carried out preliminary analysis. The report claims Resolution may still be interested in pursuing an Aviva deal.
RSA, which had its £5bn offer turned down by Aviva, is also thought to remain interested.
Meanwhile, Aviva has today announced the launch of a major global campaign.