Aviva’s boss has secured her most ambitious deal to date after the competition watchdog gave the takeover of Direct Line the green light.
In a major boost for Amanda Blanc on her fifth anniversary as chief executive of the insurance giant, the Competition and Markets Authority cleared the £3.7billion takeover.
The deal will create the UK’s largest home and motor insurer – but it also puts up to 2,300 jobs at risk.
Direct Line boss Adam Winslow, who joined from Aviva last year, is stepping down. There is said to be no love lost between Winslow and Blanc after their spell together at Aviva.
The combined group will shed up to 7 per cent of its total workforce as it eliminates overlapping roles.
Deal: Aviva boss Amanda Blanc has secured her most ambitious deal to date on her fifth anniversary as chief exec of the insurance giant
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