RBC selling insurance unit to Aviva, 575 jobs moving

TORONTO -- Royal Bank of Canada is selling RBC General Insurance to Aviva Canada for $582 million.

The bank has also signed Aviva Canada to provide a full suite of home and auto insurance to RBC customers under a 15-year strategic agreement.

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As part of the agreement, about 575 RBC employees will move to Aviva.

The bank (TSX:RY) says its policyholders won't be affected at this time.



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