Aviva sells Turkish business

Aviva has sold its Turkish general insurance business Aviva Sigorta AŞ to a private equity consortium led by EMF Capital Partners.

The agreement is part of Aviva’s strategy to narrow the group's focus on businesses where it has a leadership position and can generate attractive returns.

Aviva’s life and pensions business in Turkey, AvivaSA, which is a key growth and area and future cash generator for the business is unaffected by this transaction.

The sale is expected to complete in the first half of 2014.