Aviva News

3i Group’s Montague Replaces McFarlane As Aviva Chairman

Aviva Plc, the U.K.’s second- largest insurer by market value, named Adrian Montague as non- executive chairman, replacing John McFarlane, who is taking up the same job at Barclays Plc. Montague, 66, who joined the board of Aviva in 2013, …

Iowa Insurance Regulator Approves Aviva Acquisition

Iowa’s insurance regulator has approved the acquisition of West Des Moines-based AvivaUSA and subsidiaries by Athene Holding Ltd., a life insurance company owned primarily by private equity fund Apollo Global Management. Iowa Insurance Commissioner Nick Gerhart said in a statement …

Aviva Names ex-AIA Chief Wilson as New CEO

The UK’s Aviva plc announced that Mark Wilson will join the board of the Company on December 1st, 2012 and will become chief executive officer effective January 1, 2013. John McFarlane, chairman of Aviva, who has been acting in an …

Insurer Aviva Nearing Sale of U.S. Business

Aviva, the UK’s second-biggest insurer, is closing in on the sale of its underperforming U.S. business, a key part its drive to strengthen its finances in an uncertain economic climate and revive its share price. The disposal, expected “reasonably soon,” …

Report Finds Less than 10% of Global Insurers Using ‘App’ Strategy

A report by Swiss research company MyPrivateBanking concludes that while the “mobile app revolution” has reached the insurance industry, adoption of the popular technology is “still at a very early stage, showing patchy and inconsistent deployment.” The survey involved a total …

UK Insurer Aviva Culls Units in Turnaround Drive

Aviva, the UK’s No.2 insurer, plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors irked by the group’s flagging share price. The company, whose weak stock market …

UK Insurers Face Floods Losses; May Raise Premiums

British insurers face big claims for flooding after the heavy rainfalls across the country this month, making it harder for them to hit profit targets and potentially forcing them to raise premium rates for consumers, analysts said on Tuesday. Hundreds …

Best Maintains AVIVA and Subs Ratings Under Review; Negative Implications

A.M. Best Europe – Rating Services Limited has reviewed and maintained the under review status of the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of the insurance subsidiaries of the UK’s AVIVA plc, as …

Best Sees No Ratings Changes at Aviva after Moss Departure

A.M. Best Europe – Rating Services Limited has commented that the financial strength ratings, issuer credit ratings and debt ratings of the UK’s Aviva plc and its subsidiaries “are unaffected by the recent announcement that Aviva’s chief executive officer (CEO) …

Aviva Gives Financial Terms of Moss’ Departure

Following the announcement that Andrew Moss will leave the Aviva Group at the end of May, the company announced that he “will receive basic salary in lieu of 12 months notice in accordance with his contractual entitlements in installments and …