Standard Life buys rival in £2bn deal to create pension and savings giant

Standard Life has agreed to buy rival Aegon’s UK business for £2bn - (Getty)

Standard Life has agreed to buy rival Aegon’s UK business for £2 billion in a move set to create a pension and savings giant.

The deal will see Standard Life, recently rebranded from Phoenix Group, oversee 16 million customers and £480 million in assets under administration.