Aviva sells three European businesses to MetLife

Aviva has sold its Czech Republic, Hungary and Romania businesses to MetLife.

The deal, which is subject to regulatory approvals in each jurisdiction, is expected to be completed this year.

The combined net assets of the three businesses as at June 30 2011 were around €57m (£48m).

Aviva group chief executive Andrew Moss (pictured) says: “We are pleased to have agreed the sale of our businesses in Czech Republic, Hungary and Romania to MetLife. This transaction is another step to further focus the group on our priority markets.”