CNP Assurances and Allianz to acquire Aviva Italy from Unicredit-backed Aviva for €873m.

CNP Assurances, an insurance company, and Allianz, a provider of insurance and financial services, agreed to acquire Aviva Italy, a unit conducting life and general insurance business, from Unicredit-backed Aviva for €873m. "Since I announced our new strategy in August last year, we have announced seven divestments that will generate over £5bn of cash proceeds. This rapid progress allows us to focus on transforming and growing our already strong businesses in the UK, Ireland and Canada. The sale of our Italian operations to high quality buyers is a positive outcome for our customers, employees, distributors and shareholders. We promised that we would deliver quickly and we are. Our work to improve Aviva for the benefit of our shareholders continues," Amanda Blanc, Aviva CEO.