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Aviva Seeking Acquisitions

(The Moscow Times) Aviva, Britain’s second-biggest in­surer, is seeking to buy Russian com­petitors at less than a quarter of their price before the global credit crisis, Andrei Dubinin, chief executive offi­cer of Aviva Russia, said Friday.
Local insurers can be bought for the equivalent of their annual revenue from premiums or less, compared with four times before the crisis hit Russia in September 2008, Dubinin said. “Russia is a key market for us be­cause it’s the most populated country in Europe with a very low level of pen­etration,” he said.

Источник: The Moscow Times