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Aviva sells Turkey business as turnaround plan continues

Reuters
·1-min read

(Reuters) - Aviva has agreed to sell its 40% stake in a joint venture in Turkey for 122 million pounds ($173.17 million), as chief executive Amanda Blanc continues to sell off non-core units.

The sale to Ageas Insurance International is expected to close later in 2021 and comes a day after Aviva agreed to sell its French business, as it tries to focus on its operations in Britain, Ireland and Canada.

WATCH: How to save money on a low income

The insurer said last year it is looking to sell its continental European and Asian businesses, after prolonged share price weakness.

($1 = 0.7045 pounds)

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(Reporting by Clara Denina; Editing by Rachel Armstrong)