Aviva Canada acquires RBC General Insurance Company

Aviva Canada has completed its acquisition of RBC General Insurance Company.

As part of the transaction, Aviva Canada has made a 15 year strategic agreement with RBC Insurance through which Aviva will provide policy administration and claims services and RBC Insurance customers will have access to Aviva Canada’s full suite of property/casualty (P&C) products.

The P&C products will continue to be marketed and sold under the RBC Insurance brand.

According to Aviva, the acquisition strengthens its market position in Canada, increasing gross written premiums by approximately C$800m ($620 million) and is consistent with Aviva’s strategy to provide consumers with choice about how they access insurance solutions.

As part of the acquisition, approximately 550 RBC Insurance employees will join Aviva Canada and provide dedicated support to the RBC Insurance business.

This acquisition further strengthens Aviva’s market position in Canada, increasing gross written premiums by approximately C$800m, and is consistent with Aviva’s strategy to provide consumers with choice about how they access insurance solutions.