Aviva plc has successfully finalized its acquisition of AIG Life Limited (“AIG Life UK”) from Corebridge Financial, Inc, a quoted subsidiary of American International Group, Inc (“AIG”).
The completion of this transaction, valued at £453 million, comes after obtaining all requisite approvals.
The agreement to acquire AIG Life UK was initially disclosed on 25 September 2023.
Additionally, in March, Aviva reached another milestone by agreeing to re-enter the esteemed Lloyd’s insurance market through the acquisition of insurance platform Probitas for £242 million ($306 million).
About Aviva
Aviva is the UK’s leading diversified insurer and operates in the UK, Ireland and Canada. Also have international investments in India and China.
They help 19.2 million (as at 31 December 2023) customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
As stated on their web site, they have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’.
In 2023, they paid £25.6 billion in claims and benefits to our customers.