Aviva completes on £453m AIG Life deal

Amanda Blanc, Aviva
Photo: Aviva

Aviva has confirmed that, following receipt of all necessary approvals, it has completed the acquisition of AIG Life UK.

The acquisition was announced on 25 September 2023, with Aviva buying the business from Corebridge Financial, a quoted subsidiary of AIG, for a consideration of £453m.

RelatedAviva boosts UK SME and HNW proposition with £460m AIG Life swoop 

On 28 March, the Competition and Markets Authority cleared the anticipated acquisition, having launched a merger inquiry on 8 February.

According to EY, the deal was the fourth-largest UK insurance deal in 2023 after Markerstudy Insurance acquiring Atlanta, Axa

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