Insurance giant Aviva is looking at potential takeover targets, as it ponders how best to invest a £600 million pot of money. Having posted a healthy profit recently, Aviva could well look to buy a fast growing insurtech company.
Reports in the finance press suggest that Aviva may make a purchase in the Fintech sector, as it seeks to diversify a little bit, and capitalise on the growing international market for capital transfer, lending or re-insurance via blockchain. The Telegraph speculates that Aviva may choose Turkey or Poland as it seeks to acquire a business with potential to grow.
Turkey is an interesting market for insurance companies, despite the downside of investing in a country which shares a border with Syria and has a controversial regime in government. Allianz bought Turkish health insurance company Yapi Kredi Sigorta in 2013, and companies such as Ageas, Munich Re, Met Life and Talanx have all made purchases in the Turkish market.
Lloyds of London owned Besso brokerage was bought by BGC Partners in 2017.
One target for Aviva could be Anadolu Sigorta, which is currently privately o wned and offers motor, life, travel and marine insurance. Anadolu launched its personal cyber attack insurance earlier in 2018 by the way.
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