The FCA and the Prudential Regulation Authority have approved the takeover of Friends Life by Aviva.
In a market announcement last night, the two insurance giants said all required regulatory approvals have been received for the deal to go ahead.
Aviva and Friends finalised the terms of a £5.6bn merger in December. The combined business would create the largest insurance and savings business in the UK.
It is expected to create annual cost savings of £225m in 2017, with 1,500 job losses.