Related
British insurer Aviva cuts 2,000 jobs 
Prudential fined over AIA deal 
Fitch warns UK on AAA rating 
Lloyds PPI mis-selling bill rises 
Snowy January hits UK retail sales British insurer Aviva is selling its RAC roadside rescue business to the private equity firm Carlyle Group for the equivalent of 1.12 billion euros to make an accounting profit of 675 million euros.
The auction sale was part of Aviva’s effort to scale back from non-core activities.
Aviva, which operates in about 30 countries, has been trying to boost profit by concentrating on 12 markets where it makes most money.
It has recently sold off less profitable businesses in Italy, the United States and the Netherlands.
The auction process for RAC was fiercely fought with Carlyle battling rivals Clayton Dubilier & Rice and BC Partners.
More about: Economy, Insurance market, United KingdomCopyright © 2013 euronews
JavaScript is required in order to view this article’s accompanying video
Top Stories
London turns red and yellow for Bayern-Borussia Champions League final
Supporters of Bayern Munich and Borussia Dortmund have been sampling the delights of London ahead of Saturday night's all-German European Champions League Final at Wembley Stadium. By nine o'clock in the morning, streets in central London were already filling with fans…
Iran presidential candidate Jalili vows to stand up to West
Iran's top nuclear negotiator, who is one of the favourites in the presidential race, has vowed to…
Court ban does not stop Ukraine’s first ever gay…
After a Kiev court banned Ukraine's first gay pride event from taking place in the city's main…
Corporate news
Ford quits Australia- Major Nissan recall over steering wheel glitch
- Xbox One: Microsoft’s game changer?
- Apple defends its tax affairs
- Ireland not to blame for Apple tax – Deputy PM
- Vodafone takes hit
- Royal Mail profits up
- Yahoo buys Tumblr
- Record Profits for Ryanair
- Dell’s profit dives as takeover battle rages
- 1Family of soldier killed on London street hold emotional press conference
- 2Stockholm riots provoke questions about Sweden’s immigrants
- 3London turns red and yellow for Bayern-Borussia Champions League final
- 4Riots prompt focus on Sweden’s poor immigrant suburbs
- 5Iran presidential candidate Jalili vows to stand up to West
