AVIVA TO ACQUIRE IRISH INSURER FRIENDS FIRST
Aviva plc ("Aviva") today announces that it has reached an agreement to acquire Irish insurer Friends First Life Assurance Company dac ("Friends First") for a cash consideration of €130m (£116m[1]). As a result of this acquisition, Aviva will become one of the largest composite insurers in Ireland, with its market share in life insurance increasing to 15%, alongside its existing leading 15% market share in general insurance.
This transaction is in line with Aviva's strategy to allocate capital in selected markets where it has scale or competitive advantage and where it can further expand its range of products across life and general insurance.
https://www.investegate.co.uk/aviva-plc ... 00064158W/