The industry has reacted with confusion and concern to Aviva's intention to takeover smaller rival Friends Life, with fears a merged insurer will mean worse customer service and less competition.
Clive Cowdery, major shareholder in Friends Life, is undoubtedly very happy about Aviva's plans to buy the insurer, which, if it succeeds, would net him £160m from the £5.6bn takeover deal announced on...
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