Reinsurance News
Aviva
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
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
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