Leading insurance provider, Aviva plc has announced that it has agreed to sell RAC Auto Windscreens Limited to Arques Industries AG. The gross assets of the business, which is a leading supplier of auto glass repair and replace services, totalled £40 million as at 30 September 2008.
Aviva acquired RAC Auto Windscreens – which operates a network of around 100 fitting centres and 700 mobile units – as part of the purchase of RAC plc in 2005. The business services a wide-range of clients including market leading insurers, insurance brokers and fleets.
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 RAC Auto Windscreens in the future through a long-term contract to supply glass to Aviva’s UK general insurance business.”
The deal is expected to complete by the end of the year.