Aviva confirmed that it had rejected an offer of 5 billion euros from its rival RSA which was made in the last month for Aviva’s general insurance businesses in the Canada, Ireland and in the UK. Aviva has said the investor value would be best served by retaining the insurance business. This offer was reported to the media on last Friday.

According the chairman of the Aviva group, Lord Sharman, the Aviva board thought about the deal of RSA carefully keeping the shareholders interest in mind and concluded on rejection of the offer.

The board of Aviva thought that the shareholders would be benefited by retaining the general insurance business.

The deal was proposed by RSA on 28th of July and it was rejected on 6th of August by Aviva. The general insurance business of Aviva includes the home and car insurance.

The company has said it would generate significant capital and earning benefits from the general insurance sector. But at the same time the company has said the general insurance business is not at its best now but it is expected to return to full potential in near future.