Aviva will actually sell among its italian companies for 400m as new chief executive amanda blanc pushes ahead along with her intend to slim down the sprawling insurance team.

Ms blanc ended up being appointed in july and contains promised to concentrate the group on the uk, ireland and canada. in september she revealed the purchase of singapore company in a deal that valued the machine at 1.6bn.

On monday, the business said it would sell its 80 % share in aviva vita, one of its four italian companies, to companion ubi banca in a 400m offer.

The valuation is within range with all the devices very own funds, which can be a measure of its net asset value.

Ms blanc stated: the purchase of aviva vita is another essential step forward once we reshape our portfolio and employs the recent announcement for the majority sale of our singaporean business.

Aviva still has life insurance and basic insurance organizations in italy, along with a partnership with unicredit.

The organization is placed to upgrade investors on its development at an investor day on thursday recently.