CU And GA Insurance Merger In UK Creates Money Management Giant


LONDON--By agreeing to a merger, Commercial Union and General Accident will create the UK's second largest insurance company and an investment management arm with a total of £100 billion ($164 billion) in invested assets. The combination follows the 1996 pairing of Royal and Sun Alliance, which created the UK's largest insurance company.

Like most of the UK's insurers, the two companies "run mostly IBM legacy mainframe systems dating back to the 1970s and 1980s," says John Kemble, information

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