UK Insurer Aviva has confirmed its acquisition of US life insurer AmerUs. The $US2.9 billion ($3.86 billion) transaction was announced last week.

Aviva CEO Richard Harvey says the acquisition will give his company important access to the North American long-term savings market. It also increases Aviva’s growth potential on both sides of the Atlantic.

Some analysts have questioned the price, part of which Aviva will cover through a new share issue worth £900 million ($2.2 billion).