A £650m deal is reported to be in the early stages

Acquisition

Aviva is considering a £650m takeover of the Co-op Group’s insurance arm, according to the Sunday Times.

Deutsche Bank has been appointed to sell the insurance business and so far has interest from several potential buyers. In addition to Aviva, Ageas and entrepreneur Edmund Truell have both shown an interest in the business.

Aviva’s interest comes following the announcement last week that it is cutting 2,000 jobs as part of an ongoing cost-cutting exercise.

The Co-op is selling its insurance business in order to fund the acquisition of 632 branches from Lloyds Banking Group. The bank was ordered to sell the branches by the European Commission.

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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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