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Aviva acquires ING Group’s £30m Russian pension business

Aviva has bought ING Group’s £30m pension fund business and its holding company in Russia.

The fund provides pensions to large multi-national corporate clients and has 17,000 members.

It means Aviva will be the leading foreign-owned provider of non-state pension fund products in Russia, with a 10 per cent share of the assets under management within the competitive corporate pensions market.

Aviva Europe chief executive Andrea Moneta said: “This acquisition will grow our market share of the Russian non-state pension fund business significantly, taking us from a top three foreign-owned player to the leading position. The deal provides the opportunity for us to cross-sell other life and savings products to a substantial customer base.”

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