Insurance giant Aviva following ING breakup

Wednesday 04 November 2009

British insurance giant Aviva is following the break-up of the ING group to see if it may be able to make any acquisitions, the Financial Times reported on Wednesday.

ING said last month it is to sell off its insurance and investment management business under pressure from Brussels in order to qualify for state aid.

Aviva CEO Andrew Moss said on Wednesday it is up to his management team to examine the dismantling of such a big rival to see if it featured any assets that could work as potential acquisitions. 'If there are things that could make real financial sense then we will look at them,' the paper quoted him as saying.

Aviva will bank around €1bn from the partial flotation of its Dutch insurance subsidiary Delta Lloyd in Amsterdam on Tuesday.

© DutchNews.nl

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