FTSE 100 Live: Aviva in £460m swoop for AIG UK life insurance business; blue-chips seen lower

Aviva is buying the UK life insurance business of AIG for £460 million, as the FTSE 100 giant beefs up its prescene in its home market. The deal will bring 1.3 million individual policyholders from AIG into Aviva and 1.4 million who are covered by group policies. Aviva expects to cut costs after the deal completes, saying the deal will bring  “significant capital and expense synergies”.