Aviva announces the acquisition of Expander Advisors, the second-largest network of independent financial advisors in Poland

Article date: 19 May 2015

  • Aviva acquired 100% of Expander Advisors from a consortium of financial investors led by Innova Capital 
  • This transaction is to be funded from existing Polish resources and is not expected to impact Polish cash remittances in 2015
  • Expander is the second-largest network of independent financial advisors in Poland
  • This is part of Aviva’s strategy to expand its multi-channel distribution in Poland, one of its growth markets
  • The transaction is subject to anti-trust approva

Aviva plc (“Aviva”) announces today that it has reached an agreement with Innova Capital to acquire 100 percent of Expander Advisors (“Expander”), one of the largest networks of financial advisors in Poland. This transaction is subject to the approval of Poland’s Competition and Consumer Protection Office.

The acquisition of Expander is another important milestone in the implementation of Aviva's multi-channel distribution strategy in Poland, one of its growth markets.

David McMillan, Chief Executive Officer Aviva Europe, said:

"This investment is an important step in the development of our Polish business. It enhances our distribution capability significantly and underlines our confidence in the Polish market."

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Notes to editors:

About Expander

  • Expander is the second-largest network of independent financial advisors in Poland
  • It has been operating since 2000 and has now almost 100 offices in 50 Polish cities
  • Every one in ten mortgages in the country is sold through Expander advisors

About Innova Capital

  • Innova Capital is a leading mid-market private equity firm in Central Europe 
  • Investing in Central Europe since 1994
  • €900 million managed, €600 million applied in > 40 investments 
  • > 40 investments in 10 countries in various sectors
  • > 100 CE transactions concluded in CE region (M&A, PE, privatizations)
  • www.innovacap.com

About Aviva Poland

  • Aviva Poland is Poland’s fourth-largest life insurer with more than 830,000 individual and group life customers
  • It manages over £9 billion of customers’ assets, providing both long-term insurance and savings products
  • Aviva Poland has multi-channel distribution, with tied and own channels (more than 2,000 direct sales people, a direct platform and a network of independent financial advisors – Aviva Centre of Finance)

About Aviva

  • Aviva provides life insurance, general insurance, health insurance and asset management to 34* million customers, across 16 markets worldwide
  • In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index
  • Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £245 billion in assets
  • Aviva helps people save for the future and manage the risks of everyday life; we paid out £24.6 billion in benefits and claims in 2014
  • By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society
  • The Aviva media centre at http://www.aviva.com/media/ includes company information, images, and a news release archive
  • For an introduction to what we do and how we do it, please click here http://www.aviva.com/about-us/aviva/
  • For broadcast-standard video, please visit http://www.aviva.com/media/b-roll-library/
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