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Commercial Union

Commercial Union is acquiring Berlinische Lebensversicherung, the German insurer, from Munich Re and Allianz for £207m, in order to gain access to the deregulated German market.

Commercial Union has acquired National Farmers Union, the US agricultural insurer, for £71m.

Commercial Union and General Accident have agreed a £14bn merger to create a new group called CGU that will be the UK's second-biggest insurer, and about 5,000 jobs will be lost.

Commercial Union has acquired a 55.8% stake in Union Financiere de France, the insurance and investment products company, from Credit Agricole Indosuez for £126m.

Commercial Union has acquired Societe d'Epargne Viagere, the French life assurer, and Sinafer, the insurance broker, from Compagnie de Suez for a sum thought to be about £140m.