The key points
- Expression of interest in Aviva’s assets in Poland
- The game is worth over 2 billion euros
- Other companies are also on the dossier
Generals maneuvering over Poland. As had already emerged in recent weeks, the Trieste company would have targeted Aviva’s assets for sale in Poland. Now, however, it would come to the point: for 22 March the expressions of interest to the British company had to be presented. And the Lion, after a passage in the investment committee, a body appointed in this preliminary phase to give its consent, would have moved in this direction.
The operation is particularly relevant on an economic and financial level: it is over 2 billion euros. In recent weeks Aviva has indicated a valuation of around 2 billion euros for its activities but to this sum must be added the contributions of the two bancassurance agreements that the company has in place in the area, one of which with Santander which would however be undergoing renewal.
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In short, a significant commitment for the Italian company which has nevertheless identified Europe and in particular Eastern Europe as one of the key areas for its consolidation. It is no coincidence that on several occasions the CEO, Philippe Donnet, has declared that Poland is a “key market” and that any growth opportunities in the country would be considered in perspective.
On the dossier there would also be, as reported by Reuters in the past, Allianz, which had already looked at the French activities of Aviva and the Dutch company NN Group.
Aviva is the seventh life insurer in Poland, where it operates one of the largest agent networks and two major bancassurance partnerships with Santander and ING.