Covéa exerts control over UK arm with merger and rebrand
French-owned insurer MMA is to be rebranded as Covéa as part of a merger with Provident Insurance.
Parent company Covéa said in a statement that it remained committed to the product ranges, distribution channels and locations of the two organisations.
The stated intention is to transfer the insurance business of Provident Insurance into MMA Insurance through an insurance business transfer under Part VII of the Financial Services and Markets Act 2000.
This process is subject to approval by the High Court, which among other considerations will take into account the opinion of the Financial
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