Is the RAC purchase of Aviva the most expensive hobby ever?

I have a great admiration for Patrick Snowball. As with any person who succeeds in the military, he is one of the best strategic thinkers the industry has seen for many years. He has a homily he often utters to "beware of indulging in hobbies" and how right he is. After the merger between CGU and Norwich Union (NU), he ruthlessly exited any business activity that did not add significantly to the UK general business.

I have seen many instances of large insurers setting up or acquiring

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