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.
USAA to Lay Off 220 Employees 
California Sees Two More Property Insurers Withdraw From Market 
Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination 
Progressive Gains as Drivers Shop Around for Auto Insurance—Again 
