Aviva completes £460m acquisition of AIG Life after CMA delay

'It's disappointing to lose another protection insurer from the market'

Cameron Roberts
clock • 2 min read

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 Competition and Markets Authority (CMA) began an investigation in February. However, the deal was cleared in late March. Aviva managing director for protection Fran Bruce 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 deliver...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Record protection payouts must spur advisers on

Record protection payouts must spur advisers on

These aren't products that sell themselves

Ahmed Bawa
clock 01 November 2024 • 5 min read
Could a broader advice definition boost protection's reach?

Could a broader advice definition boost protection's reach?

'No one wakes up in the morning thinking about buying life insurance'

Paul Yates
clock 22 October 2024 • 4 min read
Are we talking enough about protection and succession planning?

Are we talking enough about protection and succession planning?

Why are more IHT liabilities for gifts not being protected?

Naomi Greatorex
clock 30 September 2024 • 4 min read