Shareholders from both CGU PLC and Norwich Union PLC have approved the companies’ planned $12 billion merger. The marriage will create Britain’s largest insurance group and Europe’s fifth largest insurer. The companies also announced that 5,000 jobs, representing 7 percent of their workforce, would be trimmed as a result of the deal.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
How Insurers Know When It’s Time to Scale AI 
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
