Aviva hands out £500 of free shares to staff after Direct Line takeover

Staff will need to hold on to the free shares for three years, Aviva said (PA) - (PA Archive)

Nearly 32,000 staff at Aviva are to receive £500 of free shares each after the insurance giant completed its £3.7 billion takeover of rival Direct Line.

The group said all 23,000 staff at Aviva and the 8,500-strong workforce at newly acquired Direct Line will receive the shares bonus in September to celebrate and recognise the milestone deal.