AIB has completed its transaction for a new bancassurance joint venture between long-term savings players Hibernian Life & Pensions and Ark Life.
AIB announced on November 22 that it had entered into a contract for the new joint venture.
Hibernian Life & Pensions Limited is the third largest company in the Irish long-term savings market. AIB-owned Ark Life is the fourth largest.
The completion of this transaction follows the approval of the European Commission and the Financial Regulator.