CGU plc was a large insurance group, created by the merger of Commercial Union and General Accident in 1998. The company was listed on the London Stock Exchange. It merged with Norwich Union in 2000 to form CGNU plc, later renamed Aviva plc.[1]
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| Company type | Public |
|---|---|
| Industry | Insurance |
| Founded | 1998 |
| Defunct | 2000 |
| Fate | Merged with Norwich Union |
| Successor | Aviva plc |
| Headquarters | London, UK |
History
editThe company was created by the 1998 merger of Commercial Union and General Accident.[2] It only existed for two years before it merged with Norwich Union in 2000 to form CGNU plc, later renamed Aviva plc.[3]
In the US, the CGU casualty and property businesses were purchased by White Mountains Insurance Group; the name of the company was later changed to OneBeacon Insurance Company.[4]
References
edit- ^ "Norwich and CGU to announce £19bn merger". The Irish Times. 21 February 2000. Retrieved 22 January 2021.
- ^ "U.K.'s Commercial Union, General Accident to Merge". The Wall Street Journal. 26 February 1998. Retrieved 18 April 2020.
- ^ "CGU and Norwich Union merge". BBC News. 21 February 2000. Retrieved 2 November 2010.
- ^ "CGU Changes Name to OneBeacon Insurance". Insurance Journal. 11 June 2001. Retrieved 2 November 2010.
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