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Aviva (OTCPK:AVVIY) is among a small number of insurers looking at making potential bids for the UK consumer operations of rival RSA.
Intact Financial (OTCPK:IFCZF), the parent of RSA, said last month it was reviewing strategic options for RSA’s personal lines business, which includes home and pet insurance.
Potential buyers of the business have been asked to submit offers next month, according to a Reuters report earlier Friday, which cited people familiar with the matter.
Aviva (OTCPK:AVVIY) declined to comment to Reuters.
“Intact is exploring strategic options in respect of RSA’s UK personal lines business, which may include a possible sale,” an RSA spokesperson told Reuters. The spokesperson added that the review is expected to be completed in Q4.
Aviva (OTCPK:AVVIY) shares jumped 5.6% on Friday at least partly amid a report in The Times on market speculation about takeover interest from at least two possible buyers. The speculation comes after a Betativille report on Wednesday that also mentioned takeover speculation.
