Britain’s CGU announced that it had agreed to acquire the life insurance and pension business of Spain’s Bancaja, its 4th largest bank, for £200 million ($196 million).
The agreement will make CGNU, upon completion of the presently pending merger between CGU and Norwich Union, the 9th largest life insurance provider in Spain’s fast growing market – 17 percent annually since 1995 – with an estimated 3.3 percent market share.
Was this article valuable?
Here are more articles you may enjoy.
Cloudy Future for Bourbon Has Jim Beam Closing Distillery for a Year 
Howden Buys M&A Insurance Broker Atlantic Group in US Expansion 
Aon Extends Employment Agreement With CEO Case 
Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead 
