| 2.2°C Dublin

Aviva considers branch franchise plan

INSURANCE giant Aviva has told staff it's considering franchising some of its Irish branches and selling off the others, it emerged last night.

Previous reports had suggested Aviva was poised to close down the entire network while other reports said property agents had been hired to advise on the potential sale of "between half and all" of its 26 branches.

Aviva staff were told yesterday that while the insurer was reviewing its property portfolio, there were a "number of options" being considered including "franchising branches to intermediaries".

Franchising would be good news for employees, because they may be able to move to the new agent.

Further information is expected over the coming fortnight, trade union representative Brian Gallagher said last night.

A spokeswoman for Aviva declined to say how long the property review would take or how much a sale could raise. In a brief statement, the insurer said its "property footprint" was reviewed "on a regular basis".

Aviva plans to cut about 950 jobs from its workforce of about 3,000.

Irish Independent