Aviva, the UK's largest insurer, has confirmed it is in talks to sell its Australian insurance business to Insurance Australia Group (IAG), in a deal worth £635m.
In a statement, IAG requested that its trading halt be continued, with the company reviewing "appropriate funding arrangements".
IAG said the proposal is a logical step in its strategy to diversify, adding that it will inform the market when a transaction is concluded.
An IAG spokesman said: "Owing to the state of negotiations, the precise timing of any announcement is uncertain, but IAG will keep the market informed as discussions progress."
Aviva is one of several UK-based insurers and fund managers that have been withdrawing from the Australian market.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
