Aviva Canada Inc. announced the completion of its acquisition of RBC General Insurance Company. The previously announced transaction involves a 15-year strategic agreement with RBC Insurance through which Aviva Canada will provide policy administration and claims services. RBC Insurance will access Aviva Canada’s full suite of property and casualty (P&C) products. RBC Insurance will continue to market and sell these products under the RBC Insurance brand.
Aviva Canada is a leading property and casualty groups Canada. It provides home, automobile, leisure/lifestyle and business insurance to more than three million customers.
This acquisition further strengthens Aviva’s market in Canada. It will increase gross written premiums by approximately $800 million Canadian dollars, and is consistent with Aviva’s strategy to provide consumers with choice about how they access insurance solutions. Around 550 RBC Insurance employees will join Aviva Canada and provide dedicated support to RBC Insurance business.
Read the July 2016 issue of Business Review USA & Canada magazine