Article date: 11 February 2009
Aviva plc ("Aviva") today announces that it has sold the British School of Motoring Limited and its subsidiaries ("BSM") to Arques Industries AG. The gross assets of the business, which is one of the UK's leading driving schools, total £36 million.*
Aviva acquired BSM - which operates a franchised network of around 2,700 driving instructors - as part of the purchase of RAC plc in 2005.
Aviva's UK general insurance CEO, Igal Mayer, said: "This sale is part of our on-going programme to transform our UK general insurance business through an increased focus on our core insurance and vehicle breakdown activities, allowing us to provide a first-rate service to our customers. I'm delighted that we'll continue to have a working relationship with BSM in the future through a long-term arrangement to market our insurance products to BSM's customers."
*Unaudited as at 31 December 2008
Vanessa Rhodes, senior group media relations manager
+44 (0)20 7662 2482
Sue Winston, head of media relations
+44 (0)20 7662 8221
James Murgatroyd/Ed Simpkins, Finsbury
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Charles Barrows, investor relations director
+44 (0)20 7662 8115
Jessie Burrows, head of investor relations
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Susie Yeoh, investor relations manager
+44 (0)20 7662 2117
Notes to editors:
Aviva is the leading provider of life and pension products in Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2007.
Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £49.2 billion at 31 December 2007 and funds under management of £359 billion at 30 June 2008.
The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
This sale follows the announcement of the agreement to sell Auto Windscreens to Arques Industries AG, and HPI to Solera Holdings Inc.
BSM employs over 600 people across the UK in 96 local centres and a head-office located in Bristol.