Aviva’s £3.7bn ($4.6bn) takeover of Direct Line will achieve annual run-rate pre-tax cost synergies of at least £125mn by three years after the completed transaction, with meaningful savings expected in its reinsurance buying.
Aviva
Aviva targets reinsurance savings, head-count reductions for Direct Line buy
Aviva is targeting £125mn of annual savings within three years of the deal.