Reinsurance News
Aviva
Allianz to acquire the Italian P/C entity of Aviva
4th March 2021
Global insurer Allianz is set to acquire Aviva Italia S.p.A., the Italian P/C entity of Aviva Group, for €330 million. Aviva expects to use the increased capital and cash to support its previously announced capital framework of debt reduction, investment for long-term growth and return of excess capital to shareholders. The portfolio ... Read the full article
Aviva posts 2020 operating profit of £3.2bn
4th March 2021
Despite the challenges of Brexit and the COVID-19 pandemic, UK insurer Aviva has reported operating profit of £3.2 billion (£3.2bn in 2019) and IFRS profit of £2.9 billion (£2.7bn in 2019) for 2020. While overall operating profit remained relatively flat, year-on-year, operating profit from core markets came in just 3% lower ... Read the full article
Aviva intends to become a net zero company by 2040
1st March 2021
UK insurer Aviva has unveiled plans to become a net zero carbon emissions firm by 2040, as the company sets targets ahead of those required by the Paris Agreement. The Aviva plan includes net zero emissions from its investments by 2040; a cut of 25% in the carbon intensity of its ... Read the full article
Aviva announces exit from Turkey
24th February 2021
London-headquartered insurer Aviva has announced that it plans to exit the Turkish re/insurance market via a sale of its shareholding in AvivaSA Emeklilik ve Hayat AS (Aviva SA). Aviva has agreed to sell its entire 40% shareholding in the Turkish join venture to Ageas Insurance International N.V. Ageas will pay a cash ... Read the full article
Aviva sells French business to Aéma Groupe for €3.2bn
23rd February 2021
After months of speculation, London-headquartered insurer Aviva has announced an agreement to sell its French business to mutual insurer Aéma Groupe, for €3.2 billion in cash. In the second-half of last year, reports started to emerge claiming that Aviva was considering the sale of its life and P&C operations in France ... Read the full article
Dale & DUAL announce MGU partnership, capacity from Aviva
21st December 2020
Dale Underwriting Partners and DUAL have announced a new joint venture in collaboration with Aviva. Brought together by Howden, the deal sees Aviva enter into a three-year agreement to offer capacity on mid-market global Commercial Property business written by Dale’s Property Insurance team and focusing primarily in the US. The initial focus ... Read the full article
Aviva hires new CEO of UK & Ireland Life Insurance
16th December 2020
Aviva has appointed Doug Brown as CEO of UK & Ireland Life Insurance, where he is expected to join in April. Brown is currently serving as CEO of Canada Life in the UK and will join Aviva’s Group Executive Committee, reporting to Aviva Group CEO, Amanda Blanc. He has substantial, senior management ... Read the full article
Aviva to sell Vietnam business to Manulife
14th December 2020
London-headquartered insurer Aviva has agreed to sell its life insurance business in Vietnam to Manulife. Aviva Vietnam will be 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 by around £100 million. As part of the deal, Manulife ... Read the full article
Aviva names Chief Brand & Corporate Affairs Officer
9th December 2020
Aviva has announced the appointment of Stephen Doherty as Chief Brand and Corporate Affairs Officer. This new role at Aviva will see Doherty join the Group Executive Committee, reporting to Aviva Chief Executive Officer, Amanda Blanc. He will commence his role at Aviva in March 2021, and will lead on brand, public ... Read the full article
Aviva appoints Winslow as CEO of International
4th December 2020
London-headquartered insurer Aviva has appointed Adam Winslow as CEO of International. In this newly-created role, Winslow will be reporting to Amanda Blanc and will also be joining the Group Executive Committee. Winslow will join Aviva in January and will be responsible for Aviva’s international businesses in continental Europe and Asia. He has two ... Read the full article
Singlife led consortium completes acquisition of Aviva’s Singapore business
1st December 2020
A consortium led by Singapore Life Pte. Ltd. (Singlife) has completed its previously announced transaction to combine Singlife with UK insurer Aviva's Singapore operations. With the deal now complete, a new company called Aviva Singlife Holdings Pte. Ltd. will now hold the Singlife and Aviva Singapore legal entities, which will continue ... Read the full article
Aviva wraps up £875mn buy-in deal with staff pension scheme
30th November 2020
The Aviva Staff Pension Scheme has completed a £875 million buy-in with Aviva Life & Pensions UK that covers the liabilities of roughly 2,800 members. Advised by Hymans Robertson, this is the second buy-in with Aviva following a £1.7bn deal in 2019 and a £5bn longevity swap in 2014. This latest ... Read the full article
Aviva sees new business sales spike in 9M thanks to higher bulk annuity sales
26th November 2020
London-headquartered insurer Aviva saw UK & Ireland Life new business sales increase 40% to £9.2 billion over the first nine months of 2020, driven by £5 billion of bulk purchase annuity sales, up from £2.1 billion in the same period last year. In UK Savings and Retirement, net fund flows increased 20% ... Read the full article
Aviva sells shares in Italian life venture to UBI Banca
24th November 2020
London-headquartered insurer Aviva has agreed to sell its entire 80% shareholding in the Italian life insurance joint venture, Aviva Vita S.p.A, to its partner UBI Banca. Aviva previously announced a commitment to refocus its portfolio, and this transaction represents just that. On completion, Aviva will receive €400 million in cash consideration. The ... Read the full article
Marks & Spencer’s pension scheme backed by Aviva and Phoenix Life
6th November 2020
Marks & Spencer has taken a further significant step in reducing the risks in its £11bn UK defined benefit pension scheme through two further buy-in policies with Aviva and Phoenix Life totalling £750m. Hymans Robertson has been working with Marks & Spencer on the de-risking strategy for the pension scheme, working ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
