Aviva splits from its non-life business

The British insurance group Aviva has announced the sale of its non-life subsidiary in Turkey, Aviva Sigorta, to a private equity consortium. The capital is divided between EMF Capital Partners which acquires a majority stake, FMO and KfW DEG. The amount of the transaction, subject to the approval of regulatory authorities, has not been disclosed.

The British group still retains the AvivaSA control, its Turkish subsidiary specialized in life insurance.