Aviva PLC, the British parent company of West Des Moines-based Aviva USA, has agreed to sell its Russian unit as it continues to scale back globally, Bloomberg reported.

Blagosostoyanie, a private Russian pension fund, agreed to pay 35 million euros ($46 million) in cash for Aviva Russia, the London-based insurer said Wednesday. The sale gives Aviva a "modest premium" to book value, according to the statement from the company.

Aviva's capital has been hurt by the European debt crisis more than any other U.K. insurer because it gets 40 percent of its life insurance operating profit from the euro region and holds more euro sovereign debt than competitors, according to data compiled by Bloomberg. In December, Aviva announced the sale of Aviva USA to Athene Holding Ltd. for $1.8 billion and its share of Spanish venture Aseval for 603 million euros to Bankia SA.