Aviva said to be in talks to sell French ops to Allianz-Athora consortium

(Sharecast News) - A consortium of Germany's Allianz and life insurer Athora Holdings is reportedly in talks to buy the French operations of London-listed insurer Aviva.

Reuters cited sources as saying that the deal could be worth between €2bn and €3bn. It was also understood that Aviva is working with JPMorgan and Rothschild on finding a new owner for the unit.

Sources told Reuters the business has drawn interest from Axa, Assicurazioni Generali and French mutual insurer La Mondiale, among others.

Aviva said in a statement to Reuters that it was "in the very early stages of developing its strategy for its continental European and Asian businesses", while Allianz, Athora, Axa, Generali and the banks declined to comment.