Aviva obtains approval for Direct Line acquisition

Takeover expected to complete in July

Jaskeet Briah
clock • 1 min read

Aviva has received written notice from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) approving its acquisition of Direct Line.

The Competition and Markets Authority (CMA) is yet to release initial findings from phase one of its investigation into the takeover on 10 July, with Direct Line noting that clearance from the CMA is a condition to the acquisition. "Following constructive engagement with the CMA, Aviva remains confident of securing unconditional clearance by the phase one statutory deadline," Direct Line said. The CMA launched an investigation into the acquisition on 15 May to examine whether the merger would "result in a substantial lessening of competition within any market or markets in the United ...

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 Insurer

Royal London protection new business sales rise 17% in 2025

Royal London protection new business sales rise 17% in 2025

£771m paid in protection claims

Jaskeet Briah
clock 06 March 2026 • 2 min read
Guardian IP added to UnderwriteMe platform

Guardian IP added to UnderwriteMe platform

Seventh insurer offering buy-now for IP on the platform

Jaskeet Briah
clock 05 March 2026 • 1 min read
British Friendly pays out £4.9m in 2025

British Friendly pays out £4.9m in 2025

88.61% of claims paid

Jaskeet Briah
clock 05 March 2026 • 1 min read