Aviva/DLG set for July as regulators rubber stamp takeover
The Financial Conduct Authority and the Prudential Regulation Authority have given the greenlight to Aviva buying Direct Line Group clearing a pathway for the deal to complete next month.
The Competition and Markets Authority launched a merger inquiry in May with a deadline of 10 July. However Aviva confirmed it is confident of overcoming this hurdle and has waived the clearance clause that was part of the original acquisition terms and conditions.
A bigger, strong Aviva is good for everybody. Even though it is the direct side of the business it is good for our brokers in personal and commercial lines.
The insurer reported: “Following constructive engagement with the CMA, Aviva
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