Reinsurance News


HSBC considering a bid for Aviva’s Asian operations, reports suggest

22nd August 2019

London-based banking giant HSBC Holdings Plc may be considering a bid to take over the Asian operations of Aviva Plc as part of a push for further business diversification in the region, according to reports from Bloomberg. Sources at the publication said HSBC was in the early stages of weighing an ... Read the full article

Jason Storah to succeed Colm Holms as Aviva Canada CEO

7th June 2019

Aviva Canada has announced the appointment of Jason Storah as Chief Executive Officer, replacing Colm Holmes, who is set to become CEO of General Insurance. Storah has more than 15 years of experience with Aviva Canada, serving most recently as Chief Distribution Officer, overseeing Broker Distribution, Partnerships, RBC Insurance, Aviva's Direct ... Read the full article

Aviva to cut 1,800 jobs in expense saving push

6th June 2019

UK insurer Aviva has announced that it plans to cut approximately 1,800 jobs across the group over the next three years as part of a new expense saving push. This would represent a 6% reduction in the company’s total workforce of 30,000, although Aviva claimed that redundancies will be kept to ... Read the full article

Tom Stoddard to step down as CFO of Aviva

5th June 2019

UK insurer Aviva plc has announced that Tom Stoddard will step down from his role as Chief Financial Officer (CFO) and as a Director of the company from June 30, 2019. Stoddard is due to remain with Aviva until December 31, 2019 to support an orderly transition, while Jason Windsor will ... Read the full article

Aviva Director and CEO of UK Insurance, Andy Briggs to step down

24th April 2019

As part of changes to its senior management, insurer Aviva plc has announced that Andy Briggs is to step down from his role as Chief Executive Officer (CEO) UK Insurance and as a Director of Aviva plc, effective immediately. In order to support an orderly transition, Briggs will remain with the ... Read the full article

The Hartford launches Global Insurer Network

28th March 2019

Property and casualty (P&C) insurer The Hartford has announced the launch of The Hartford Global Insurer Network, a new, directly-managed network of insurance partners that's backed by an international technology platform. The launch sees The Hartford enhance its multinational capabilities, and through the network the P&C insurer will offer insurance protection ... Read the full article

Aviva promotes Maurice Tulloch to CEO role

4th March 2019

UK insurer Aviva has promoted Maurice Tulloch to the role of Chief Executive Officer, four months after revealing the departure of Mark Wilson from the position. Tulloch has served as the firm’s International CEO since 2017 and will take the reigns from Sir Adrian Montague, who had been acting in an ... Read the full article

Aviva’s Chris Wei elected Chairman of IIS Executive Council

17th January 2019

The Executive Council of the International Insurance Society (IIS), a global forum for insurance industry stakeholders, has elected Aviva’s Executive Chairman of Asia, Chris Wei, as its Chairman. Wei will succeed former President & Chief Executive Officer of RGA, Greig Woodring, who remains on the Council serving as Immediate Past Chair. Wei ... Read the full article

Mark Wilson steps down as CEO of Aviva

9th October 2018

UK domiciled insurer Aviva has announced the departure of Chief Executive Officer Mark Wilson, effective April 2019. Wilson, who joined Aviva as CEO in 2013, will assist with the planned transition up until his departure next year. The group states that he was brought in to deliver a turnaround of Aviva and, now ... Read the full article

Prudential takes on $1.4bn of pension longevity risk from Aviva

8th August 2018

Prudential Retirement, part of Prudential Financial, has reinsured longevity risk for approximately £1 billion (nearly $1.4 billion) in pension liabilities from Aviva Life and Pensions, the first such transaction between the two companies. The deal comes amid a rising appetite for de-risking in the U.K as attractive pricing and enhanced capacity ... Read the full article

Marks & Spencer secures £1.4bn pension scheme buy-in

17th May 2018

Following the closure of its £10 billion defined pension scheme to future accrual in 2017, Marks & Spencer has further reduced risks by completing a £1.4 billion pension liabilities buy-in with insurers Aviva and Phoenix Life. The scheme’s position has gradually improved through a close working relationships with trustees and their ... Read the full article

Aviva announces a number of new leadership appointments

23rd January 2018

UK domiciled insurer Aviva has announced a number of leadership changes, which includes the appointment of Colm Holmes, currently Chief Executive Officer (CEO) of Aviva UK General Insurance, as President and CEO of Aviva Canada. As well as becoming President and CEO of Aviva Canada, Holmes will continue to head the ... Read the full article

Aviva to sell stake in Italian joint venture JV for €265 million

29th September 2017

Insurer Aviva has announced plans to sell the entirety of its shareholding in its Italian joint venture, Avipop Assicurazioni S.p.A. (JV), to Banco BPM S.p.A (Banco BPM) for €265 million (£233 million). The acquisition also includes the wholly owned subsidiary of JV, Avipop Vita S.p.A, and the consideration is payable in cash ... Read the full article

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