Private equity consortium is led by EMF Capital Partners

Aviva has sold its general insurance business in Turkey to a private equity consortium.

The consortium is led by EMF Capital Partners, and the sale is expected to be completed in the first half of 2014, subject to regulatory approval.

Aviva said the sale was “part of Aviva’s strategy to narrow the group’s focus on businesses where it has a leadership position and can generate attractive returns”.

It confirmed that the Turkish life insurance business would not be affected by the sale.