Aviva to create NU and RAC insurance colossus
Norwich Union's parent company Aviva plans to create a general insurance and motoring services giant...
Norwich Union's parent company Aviva plans to create a general insurance and motoring services giant by bringing together NU and RAC.
Aviva has made a recommended cash and share offer for the whole of the issued and to-be-issued ordinary share capital of RAC, for approximately £1.1bn.
Aviva reported a 25% increase in worldwide operating profits to £2.34bn, including a 47% increase in general insurance profits to £1.32bn for the year-ended 31 December 2004. Its worldwide combined operating ratio
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