ACHMEA completes the sale of its Irish life insurer to AVIVA

Dutch insurer ACHMEA announced the closing of the sale of its Irish life insurer FRIENDS FIRST to AVIVA group plc.

"All the required regulatory approvals for the transaction have been received. Following these approvals, the transfer of the entire shareholding in FRIENDS FIRST Life Assurance Company to AVIVA has been completed", as ACHMEA announced in a statement.

The agreement announced in November 2017 resulted for the Dutch financial group with total net cash proceeds of approximately EUR 225 million consisting of direct proceeds of the sale and dividend payments collected prior to the transaction. The IFRS results of the transaction have been accounted for in 2017, as the insurer announced.

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