Aviva sells RAC Auto Windscreens to Arques Industries AG
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.
See also:
