Aviva Canada buys out RBC General Insurance

Aviva Canada buys out RBC General Insurance | Insurance Business Canada

Aviva Canada buys out RBC General Insurance
On July 1st, Aviva Canada Inc. announced that its acquisition of RBC General Insurance has been completed.

According to Canada Business Review, the previously-announced transaction includes a 15-year strategic agreement between the two, through which RBC would be permitted to market and sell Aviva Canada’s property and casualty products under its brand.

The acquisition further boosts Aviva Canada’s market in the country. The deal would approximately increase the company’s gross written premiums by $800 million. The purchase is also consistent with Aviva’s strategy to offer its customers with more options to access insurance solutions. Around 550 RBC insurance employees will join Aviva Canada as a result of the acquisition, providing dedicated support to the RBC Insurance business unit.

Aviva Canada is one of Canada’s major property and casualty groups, providing home, automobile, lifestyle, and business insurance to over three million customers nationwide.

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