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Aviva offloads Turkish general insurance arm

Aviva has announced the sale of its Turkish general insurance arm Aviva Sigorta A.S for an undisclosed sum.

The sale of the business to a private equity consortium is part of the insurer’s strategy to narrow its focus and cut costs globally.

Aviva says its Turkish life and pensions business, AvivaSA, is unaffected by the deal.

The sale of Aviva Sigorta remains subject to regulatory approval and is expected to complete in the first half of 2014.


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