Aviva gets green light from CMA for AIG deal

Last month, the UK Competition and Markets Authority initiated an investigation into Aviva’s planned acquisition of AIG Life over concerns that the transaction could lead to “a substantial lessening of competition” in the UK market.

The British regulator provided an update today, giving Aviva the green light to continue with the acquisition.

The insurer announced plans to buy AIG’s UK life insurance business for $563 million last year. AIG Life UK provides a full suite of individual and group protection products, with 1.3 million individual protection customers and 1.4 million group protection members