Aviva 'eyes Co-operative takeover'

Insurance giant Aviva is eyeing a £650m takeover of The Co-operative’s insurance business in the UK, it was reported today.

Aviva is among a number of firms considering bidding after the Co-op put the division up for sale last month to raise cash to plug a capital shortfall - which is threatening its swoop for 632 Lloyds Banking Group branches, according to The Sunday Times.