One Direct in Aviva takeover

An Post has reached initial agreement via its insurance subsidiary One Direct to buy the branch network element of the general insurance arm of Aviva Ireland.

Aviva’s recent tendering process for the sale led it to selecting One Direct, which employs 102 people at its headquarters in Athlone.

Final agreement — following due diligence — is expected to be reached in the coming weeks, with the deal anticipated to be concluded by September.