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Aviva plc ( ) is the world's fifth-largest insurance group, the largest insurance group in the UK and the second-largest insurance group in Canada operating as Aviva Canada. It is one of the leading providers of life and pension products in Europe and has a presence in 28 countries worldwide, notably France and The Netherlands.

Aviva plc is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

The Company was formerly called CGNU, and was created by a merger of Norwich Union and CGU plc (itself created by the 1998 merger of Commercial Union and General Accident) in 2000. The Aviva name was adopted in July 2002.

During March 2005 Aviva plc acquired the RAC plc breakdown recovery operation for around £1.1 billion.

In July 2006, Aviva greatly increased its presence in the United States by acquiring AmerUs Group, a financial services company founded in 1896.

The Company continued to use the Norwich Union name as a trading name until 1 June 2009 when it became formally known as Aviva within the United Kingdom. The launch was supported by a £9 million advertising campaign to promote the rebranding (one of the most expensive ever in the UK insurance field), with the participation of celebrities including Bruce Willis and Alice Cooper.

In June 2009 the Company decided to dispose of Navigator, its Australian wealth management business, to National Australia Bank for A$825 million (£401 million); the acquisition is likely to complete in in the fourth quarter of 2009.

In October 2009 the company decided to focus on its commercial insurance sector and demonstrate its commitment to brokers by launching their 'find a broker' facility, using the British Insurance Brokers Association search engine. To help them with this endeavour, Paul Whitehouse was recruited as played the part of a successful hairdresser running three salons. The message of the campaign focussed on business insurance through insurance brokers. The closing line of the campaign was "We're in business to keep you in business".

Operations

The Company's main activities are general and life insurance as well as long-term savings and fund management. It has around £316 billion of assets under management. The group has 54,000 employees, including just under 30,000 in the UK, serving 50 million customers worldwide.

Aviva was the first insurance company to become carbon neutral globally.

Companies

  • - United Kingdom
    • Aviva Life - Pensions, investments, Life Insurance and long term savings (formerly Norwich Union)
    • Aviva Insurance - General Insurance
    • Aviva Investors - Fund Management (formerly Morley Fund Management)
    • RAC - Breakdown recovery
  • - United States of America - Aviva USA Corporation
  • - Ireland
  • - Poland - Aviva
  • - Netherlands - Delta Lloyd Groep
  • - Canada - Aviva Canada
  • - France - Eurofil
  • - Republika Srpska - Jahorina Banka (cyrllic)
  • - Australia
  • - China - Aviva-Cofco
  • - India - Aviva India
  • - Malaysia - CIMB Aviva
  • - Singapore
  • - Turkey
  • - Taiwan - First Aviva (in Chinese language)
  • - Sri Lanka
  • - Russia
  • - Lithuania
  • - Croatia - Ariva Nava Banka
  • - Italy - Aviva Italia Holding S.p.A.


Company name

The company name, Aviva, is a Hebrew name meaning Spring or Renewal (as in Tel Avivmarker), though this is thought to be co-incidental.

Sponsorship

In May 2008 Aviva became Norwich City Football Club's main sponsor. Ironically, in a 2009 television advert starring Paul Whitehouse they feature a Plymouth Argyle F.C. fan who uses Aviva car insurance followed by a Green Army chant. It also acquired the naming rights for the redeveloped Lansdowne Roadmarker stadium in Dublinmarker, Ireland, and will now be called the Aviva Stadiummarker.

Senior management

CEO Richard Harvey retired on 11 July 2007. His successor was Andrew Moss, the former group finance director. Moss is paid an annual base salary of £925,000 for his role as Chief Executive.

References

External links




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