The Competition and Markets Authority (CMA) has cleared the anticipated acquisition by Aviva of AIG Life.
The takeover, which is expected to form a £460m deal, was under investigation in response to concerns that it would "result in a substantial lessening of competition within any market or markets in the UK for goods or services." The investigation, which was announced on 8 February 2023, invited industry comment until 22 February 2024 and made an official clearance decision on 28 March 2024. Aviva's acquisition of AIG Life is now expected to continue as planned, which involves AIG's protection business in the UK being purchased from Corebridge Financial. The deal is expected to add ...
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