Reinsurance News
Aviva
Aviva adjusts its Board and Committees
25th February 2022
Aviva is shaking up its Board and Committees, according to a statement from the insurer. It said that Belen Romana Garcia and Patricia Cross will retire from the Board following the conclusion of the Company’s AGM on 9 May 2022, having served eight and seven years respectively. Meanwhile, Andrea Blance has ... Read the full article
Aviva CFO Jason Windsor to step down
13th January 2022
London-headquartered insurer Aviva has announced that Jason Windsor has resigned from his position as Chief Financial Officer (CFO) and as a Director of the Company. Windsor will leave with effect from July 2022 to take up the position of CFO at Persimmon, a British housebuilding company, headquartered in York. Over the next ... Read the full article
Aviva concludes divestment program with Vietnam sale
30th December 2021
London-headquartered insurer Aviva has finalised the sale of its life insurance business in Vietnam to Manulife, which was first announced a year ago. The business has been sold for an all cash consideration in a transaction that’s expected to increase the company’s IFRS Net Asset Value and Solvency II surplus ... Read the full article
Aviva officially exits Italian market
1st December 2021
Aviva has now fully exited the Italian market following a €543 million sale of various life insurance businesses to CNP Assurances. The UK insurer had previously offloaded its general insurance business to Allianz €330 million, in a deal that was finalised last month. That deal with Allianz involved a portfolio equally ... Read the full article
Aviva’s General Insurance GWP rises to £6.5bn in 9M
11th November 2021
General Insurance premiums written by UK insurer Aviva grew 5% in the first nine months of 2021, reflecting solid customer retention and new business wins, particularly in commercial lines. UK&I life sales were £25.3 billion, up from £21.8 billion in the prior year quarter, while strong growth was seen in Savings ... Read the full article
Aviva adds Martin Strobel as independent non-exec director
25th October 2021
Aviva has announced the appointment of Martin Strobel as an independent non-executive director, effective immediately Strobel was most recently the senior independent director of RSA Insurance Group and has held a number of senior roles during his career. Previous positions include group CEO of Baloise-Holding AG, Operating Partner of Advent International and time spent ... Read the full article
Aviva completes sale of Italian business to Allianz
1st October 2021
Aviva has announced the completion of the sale of its Italian General Insurance business, Aviva Italia S.p.A., to Allianz for a cash consideration of €330 million. First announced in March, the portfolio is equally distributed between motor and non-motor business segments with gross written premiums of around €400 million. In total, nearly ... Read the full article
Aviva names Andrea Montague as Chief Risk Officer
22nd September 2021
Aviva has announced the appointment of Andrea Montague as Chief Risk Officer, reporting to Group CEO Amanda Blanc. She will join Aviva’s Executive Committee along with Chief Information Officer John Cummings. Montague joined Aviva in April 2020 as Group Chief Financial Controller and has previously worked at Royal London and Standard Life ... Read the full article
Aviva inks £190mn bulk annuity deal
28th May 2021
London headquartered insurer Aviva has completed a £190 million bulk purchase annuity buy-in transaction with the Trustees of the Wyeth Group Pension and Life Assurance Scheme. The sponsoring employer, John Wyeth & Brother Limited, is part of the Pfizer Group, one of the world’s largest biopharmaceutical companies. Aviva will insure the defined ... Read the full article
Aviva UK names Adam Winslow as new CEO
27th May 2021
London-based insurer Aviva has appointed Adam Winslow as Chief Executive Officer (CEO), UK & Ireland General Insurance. Winslow brings over 20 years’ experience in the general and life insurance industry, including roles at AIG and Allianz. He has experience within senior management in personal and commercial lines across operations and broker relationships. Earlier ... Read the full article
Aviva reports improved combined ratio for Q1
27th May 2021
London headquartered insurer Aviva has reported an improved combined ratio of 90.6% from an unprofitable 118.7% for the first quarter of 2021. The insurer owes this improvement to better underwriting performance, as well as improved weather and a reduction in COVID-19 related claims, compared to the prior year and frequency benefits ... Read the full article
Aviva Singlife hires Pearlyn Phau as Executive Director and Group CEO
24th May 2021
Aviva Singlife Holdings has appointed Pearlyn Phau as Executive Director and Group Chief Executive Officer, which will come into place in August. This follows the closure of last year’s transaction when Singapore Life (Singlife) announced it would combine with Aviva Singapore in one of the Singapore’s largest insurance deals, valuing the ... Read the full article
Aviva Singlife hires Kim Rosenkilde as Group CIO
13th April 2021
Aviva Singlife Holdings Pte, the holding company established following the merger of Aviva and Singapore Life Pte, has appointed Kim Rosenkilde as Group Chief Investment Officer. Rosenkilde brings over 30 years in financial markets, and last year had acted as an advisor to Singlife on its investment and risk management strategy throughout ... Read the full article
Aviva wraps up €453m sale of Italian life venture to UBI Banca
6th April 2021
Aviva has announced the completion of its previously announced 80% shareholding in Italian life insurance joint venture to its partner UBI Banca. Aviva received €453 million in cash consideration, a figure which includes €40 million received for the replacement of a subordinated loan provided by Aviva Italia Holding S.p.A. to Aviva ... Read the full article
Aviva sells Polish arm to Allianz for €2.5bn
26th March 2021
London-headquartered insurer Aviva has reached an agreement with Allianz to sell its entire shareholding in Aviva Poland for €2.5 billion in cash. The deal, which values the Polish business at €2.5 billion, follows the sale of Italian P&C unit Aviva Italia S.p.A. to Allianz for €330 million earlier this month. In ... Read the full article
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