- The CEO is looking forward to areas such as defense and health
Aviva boss Amanda Blanc has yet to take more aggressive targets after the insurer’s raid on rival Direct Line last week.
Blanc, 57, is eyeing more expansion areas in Aviva’s business, such as its defense and health arm, according to a source close to the matter.
It will come later Aviva awarded a contract to take over the troubled Careline for £3.6 billion after sweetening a £3.3 billion offer that was rejected.
The takeover, which offers Direct Line shareholders a mix of cash and shares, will give Aviva a 12.5 percent stake.
Expansion plans: Aviva boss Amanda Blanc could be planning more takeovers, sources say
It marks the third bid for the insurer in less than 12 months, with Direct Line having blocked an attempt to take over Belgian rival Ageas earlier this year.
The offer comes weeks after Direct Line boss Adam Winslow, who took over in early March, said the business would cut 550 jobs as part of a £100 million cost saving scheme to save its stock.
Blanc’s attempt to capture Direct Line puts him in trouble with his former colleague. The pair are said to have ‘bad blood’ after Winslow left Aviva for Straight Line.
If the download is in progress he will leave when the job is done. A City spokesman said: ‘There’s no way he’s still alive.’
Since taking over as head of Aviva in 2020, Blanc has revived the insurer’s fortunes by leading a number of acquisitions including the sale of some of its non-life businesses. head abroad.
In March this year, Blanc faced speculation that Aviva itself could be involved in a takeover, but he responded by returning the shares with a price increase, which he was happy about. investors. Funding has also increased by 10 percent this year.
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