Aviva’s £3.7 Billion Direct Line Deal Gets UK Regulator’s Nod

Aviva Plc’s plan to buy Direct Line Insurance Group Plc for roughly £3.7 billion ($5.09 billion) to create the UK’s largest motor insurer has been given the nod from the country’s competition regulator.

The Competition and Markets Authority said in a statement that it has decided, on the information currently available to it, not to refer the above merger to a phase 2 investigation. The text of its decision will be made available as soon as is reasonably practicable, the CMA said.

Direct Line and Aviva together are poised to surpass their biggest motor insurance competitor Admiral, according to ...