Aviva swoops for Friends First
Insurance giant Aviva has swooped for Irish rival Friends First in a £116 million deal that would make it one of Ireland's largest insurers.
The FTSE 100 group said the takeover would bolster its share of the life insurance market to 15%, with hopes of further growth as the Irish economy accelerates.
Aviva, which has 33 million customers across 16 markets, said it dovetailed with its strategy to make “bolt-on” acquisitions in areas where it has a significant operation or a competitive advantage.
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