Aviva, a British multinational insurance company, completed the acquisition of Optiom, a Canadian vehicle replacement insurance business, from Novacap, a North American private equity firm, for £100m. "The acquisition strengthens our offering and distribution capabilities in a highly attractive segment of the Canadian insurance market. We know Optiom well through our existing relationship and are excited about what we can do together to better serve our brokers and customers," Tracy Garrad, Aviva Canada CEO.