Reinsurance News
Aviva
Aviva overhauls business structure, sells off Hong Kong division
20th November 2019
UK insurer Aviva has simplified its business structure into five operating divisions as part of a new group strategy, in addition to announcing the sale of its stake in joint Hong Kong venture, Blue. Going forward, Aviva’s operations will consist of five divisions, comprising Investments, Savings & Retirement; UK Life; General ... Read the full article
Aviva to retain its Singapore & China businesses
18th November 2019
London headquartered insurer Aviva has revealed that following a comprehensive review of options for its Singapore business, it has decided to retain the operation. Over the past couple of months, reports in the media have claimed that a number of companies, including the likes of Allianz, MS&AD, Nippon Life and ... Read the full article
Aviva completes £1.7bn buy-in deal with staff pension scheme
24th October 2019
Aviva Life & Pensions UK has announced the completion of a £1.7 billion buy-in with the Aviva Staff Pension Scheme, securing the defined benefit pension liabilities of around 5,800 members. The deal, which affects 4,300 deferred and 1,500 current pension members, follows a £5 billion longevity swap in 2014 The swap passed ... Read the full article
Aviva names Jason Windsor as Chief Financial Officer
27th September 2019
UK insurer Aviva has announced the appointment of Jason Windsor as Chief Financial Officer (CFO) and Executive Director of the company, effective from 26 September, 2019. Windsor has served as Interim CFO since July 2019, having previously served as CFO of Aviva UK Insurance. He joined Aviva in 2010 and has extensive ... Read the full article
Allianz, MS&AD in mix to buy Aviva’s Asian operations, reports
24th September 2019
Reports have emerged from Reuters claiming that Allianz, Nippon Life and MS&AD are among a dozen companies are actively looking to purchase the Asian operations of UK insurer Aviva. Aviva confirmed earlier this year that it was examining options for a sale of the business as part of a new strategy ... Read the full article
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
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