Life - Articles - Aviva sells its Health Insurance in Ireland to Irish Life


Aviva announces the sale of private health insurer, Aviva Health Insurance Ireland Limited (Aviva Health) to Irish Life. Aviva holds a 70% stake in Aviva Health, a joint venture with AIB which owns the remaining 30%.

 The sale is in line with Aviva’s “Not everywhere” strategy of allocating capital to areas where we can generate strong returns. Aviva Ireland’s general insurance and life & pensions businesses are unaffected by today’s announcement and business will continue as usual.

 Existing customers, corporate partners and brokers will see no immediate change as a result of today’s announcement. The transaction is subject to regulatory approval and is expected to complete by the third quarter of 2016.

 At the half year 2015, Aviva Ireland Health had gross written premium of €163m, 1% of Aviva’s global gross written premium of £11bn.

 Hugh Hessing, CEO, Aviva Ireland, said: "Since acquisition in 2008, Aviva Health has contributed positively to Aviva Ireland’s overall performance. However, the private health insurance market requires scale to deliver strong returns. Aviva Ireland will therefore focus on our two successful, core businesses of life and general insurance. This will allow us to continue to offer better products and services to over 750,000 Aviva Ireland customers.”

Back to Index


Similar News to this Story

1 in 10 forget to remove their ex as their beneficiary
One in 10 divorcees have forgotten to remove their former spouse as the beneficiary of their life insurance policy (10%). Only 7% of people who divorc
FCA launches study on pure protection market providing value
The FCA has launched a market study into how well the distribution of pure protection insurance products – which support families with financial commi
Comment on FCA study of protection products to consumers
The FCA launched a new market study into distribution of pure protection products to retail consumers to discover if competition is working in the int

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.