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.
Hurricane to Threaten Hawaii With Flooding Over Weekend 
Musk’s Boring Co. Working on Tunnel to Link Austin and San Antonio 
Insurance Regulators Defend State-Led Model in Reply to Warren 
Are Software Vendors Holding Insurers Hostage? Build Your Own, Webinar Says 
