Investigation on Aviva takeover of AIG Life launched by CMA

Concerns on substantial lessening of competition

Jaskeet Briah
clock • 1 min read

The UK Competition and Markets Authority (CMA) has launched an investigation into Aviva’s acquisition of AIG Life UK, in what formed a £460 million deal.

The watchdog said it is considering whether the takeover will result in a substantial lessening of competition within any market or markets in the UK for goods or services. To assist with the merger inquiry, the CMA has invited comments on the transaction from any interested party. The watchdog will announce its decision on whether to refer the merger for a phase two investigation on 8 April, 2024. An Aviva spokesperson told COVER: "It's typical for transactions to require regulatory approval and this deal is no different. We continue to expect the transaction to complete in the fi...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

IPT receipts hit £1.2bn in November

IPT receipts hit £1.2bn in November

£6.65bn for the year

Cameron Roberts
clock 20 December 2024 • 2 min read
Firms using GDPR as scapegoat for Consumer Duty failures: MorganAsh

Firms using GDPR as scapegoat for Consumer Duty failures: MorganAsh

Risking regulatory action

Cameron Roberts
clock 17 December 2024 • 2 min read
FCA releases best practices for Consumer Duty board reports

FCA releases best practices for Consumer Duty board reports

Focus on data quality

Cameron Roberts
clock 12 December 2024 • 2 min read