Aviva's acquisition of Direct Line for £3.7 billion will create a leading force in the British motor and home insurance markets, enhancing service and competitive pricing for customers.
Dame Amanda Blanc, Aviva's chief executive, stated the deal is part of a strategy to pursue capital-light businesses, emphasizing improved customer service through the merger.
Danuta Gray, chair of Direct Line, noted the offer delivers "significant value" for shareholders based on the company's strong brands and skilled workforce.
The acquisition is expected to result in £125 million in cost savings but could also risk around 2,000 jobs, with efforts to mitigate this through redeployment.
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