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Aviva sells Italian unit to Allianz, CNP Assurances



British insurer Aviva PLC has sold its Italian insurance business for €873 million ($1.1 billion) to German insurer Allianz SE and French insurer CNP Assurances SA, Financial Post reported citing Bloomberg. Allianz has acquired Aviva’s general insurance business for €330 million, while CNP Assurances has bought Aviva’s life insurance unit for €543 million.

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