Aviva plc has purchased AIG Life Limited, from Corebridge Financial, a quoted subsidiary of American International Group, for £460m. AIG Life is home to the AIG’s UK protection business and has 1.3m individual protection customers and 1.4m group protection members.

Amanda Blanc (pictured), group chief executive officer of Aviva, said: “This acquisition brings significant strategic and financial benefits to Aviva. It strengthens our prospects in the highly attractive UK protection market and continues our progress in repositioning the group towards capital-light growth. We look forward to welcoming our new customers and colleagues to Aviva.”

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