Aviva has announced it has completed the acquisition of AIG Life from Corebridge Financial, in a deal worth £453m.
The acquisition, which was originally tabled in September 2023, had a bump in the road when the UK Competition and Markets Authority (CMA) began an investigation in February. However, the deal was cleared in late March. Fran Bruce, managing director for protection, Aviva, said: "We are delighted that Aviva has completed the acquisition of AIG Life Limited. The transaction brings significant strategic and financial benefits and strengthens our prospects in the highly attractive UK protection market. "Now that the deal is complete our combined protection business will work together to d...
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.