Aviva buys Canadian RBC's general insurance business for $400 million

January 21, 2016 2:31 PM

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Aviva buys Canadian RBC's general insurance business for $400 million

LONDON British insurer Aviva said on Thursday it was buying Canadian bank RBC's general insurance arm for C$582 million ($403 million) and had agreed a distribution deal, to diversify its business in Canada.

Aviva Chief Executive Mark Wilson has said the life and general insurer was interested in "bolt-on" acquisitions, after it bought rival UK life insurer Friends Life for 5.6 billion pounds ($7.9 billion) last year.

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