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.
Lemonade Books Q4 Net Loss of $21.7M as Customer Count Grows 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in MS Sewage Backup 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
