Reinsurance News
Aviva
Pen Underwriting enters strategic partnership with Aviva
5th October 2022
Pen Underwriting has announced a multi-year strategic partnership with Aviva to strengthen its personal lines and property owners’ business, which will see Aviva providing capacity for over £100m in premium per annum. Under the terms of the new deal, Aviva will provide 100% capacity across these business lines within Pen’s personal ... Read the full article
Lemonade partners with Aviva amid UK launch
3rd October 2022
US-based insurtech Lemonade has launched in the UK, entering a long-term, strategic partnership with Aviva. Lemonade states that residents across the UK can now get access to its insurance contents instantly, from anywhere, on any device, as well as file claims and get paid in seconds. Daniel Schreiber, Lemonade co-CEO and co-founder, ... Read the full article
Aviva sees operating profits rise 14% in H1 2022
10th August 2022
Aviva is reporting in its interim reports for 2022 that its operating profit rose by 14% to £829m in the first half of the year. The firm marked the increase from the same point in 2021 when operating profits stood at £725m. Amanda Blanc, group chief executive officer of the firm, said: ... Read the full article
UK fraudulent claims increased by 13% in 2021, Aviva
27th May 2022
London-headquartered insurer, Aviva has published its report on insurance claims fraud for 2021 in the UK, which showed that the number of fraudulent claims increased by 13% last year. Aviva also uncovered more than 11,000 instances of claims fraud last year that were worth more than £122 million. The insurer also stated ... Read the full article
Aviva posts record Q1 general insurance premiums
18th May 2022
Insurer Aviva has reported gross written premium (GWP) growth of 5% in its General Insurance business for the first quarter of 2022, to £2.1 billion. The Q1 2022 total is a record for the segment and comes after GWP of £2 billion in Q1 2021, driven by strong sales in commercial ... Read the full article
Aviva names Charlotte Jones as CFO
4th April 2022
London-headquartered insurer Aviva has appointed Charlotte Jones as Chief Financial Officer (CFO) and Executive Director which will come into effect in September. Jones was previously CFO of RSA Insurance plc and Interim Chief Executive Officer of the RSA UK & International business. She has held a career in financial services including as ... Read the full article
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