British insurer Aviva said on Tuesday it had completed the 453 million pound ($574 million) acquisition of AIG’s UK life insurance business, sealing the largest takeover under CEO Amanda Blanc to date.
Aviva announced the deal in September. The company is buying the unit – known as AIG Life UK – from Corebridge Financial Inc, a New York-listed company majority-owned by AIG.
Blanc said last month that Aviva would continue to look for “selective” acquisitions, after announcing a full-year profit that beat analyst forecasts.
Aviva in March agreed an acquisition to re-enter the historic Lloyd’s insurance market with a 242 million pound ($306 million) deal to buy insurance platform Probitas.
Source: Reuters.com