Aviva has put its estate agent subsidiary Yourmove up for sale, revealed a report. The profitable network, with 300 branches, is worth an estimated £50m.
Investment banking company Lexicon partners has been appointed to oversee the sale, said the report.
The Yourmove sale is part of a strategic review at Aviva, said the report. It said closure of Hill House Hammond, announced last week was part of the same review.
The estate agency was founded in the late 1980s by General Accident, which was later taken over by CGU, now Aviva. The network also offers financial advice and sells mortgages through its consultants.
The sale of the company, which has been closing branches, would remove the last major UK insurer from the UK estate agency business, concluded the report.
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