Aviva
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Aviva plc (Template:Lse) is the world's fifth-largest insurance group, the biggest insurance group in the UK and the second-largest insurance group in Canada. Worldwide, it trails behind AXA, Allianz, ING and Fortis. It is one of the leading providers of life and pensions products in Europe and has a presence in 25 countries worldwide, notably France and The Netherlands. 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. The company still uses the Norwich Union name within the United Kingdom.
Its main activities are long-term savings, fund management and general insurance. It has around £332 billion of assets under management. The group has just under 55,000 employees, including just under 35,000 in the UK, serving 35 million customers worldwide. Aviva plc is the holding company of the Aviva group of companies, which carries out life assurance and long-term savings business, fund management and all classes of general insurance. It also invests in securities, properties, mortgages and loans, and trades in property.
Aviva approached the UK's other insurance giant Prudential in March 2006, with a view to merging to form the world's fifth largest insurance player, but withdrew once it became clear the Prudential's board would not consider the suggestion.
On 10 January 2007, it was announced that CEO Richard Harvey would be retiring on 11 July 2007. He will be succeeded by Andrew Moss, the current group finance director.
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Aviva companies
Within the UK Aviva now has four main brands:
- Norwich Union Life (NUL) - Pensions, investments and long term savings
- Norwich Union Insurance (NUI) - General Insurance
- Morley Fund Management - Fund Management
- RAC - Breakdown recovery
Company Directors - Richard Harvey, Philip Scott, Patrick Snowball
Company Name
The company name, Aviva, is a hebrew name meaning Spring or Renewal. It is pronounced Ah-Vee-Vah.
Australia
In 2003 CGU was sold to Insurance Australia Group<ref name="IAG">Template:Cite web</ref>
In 2001 CGU purchased the Australasian operations of Fortis.<ref name="IAG"/>
Navigator Australia Limited
Republic of Ireland
Hibernian Group
Poland
Commercial Union
The Netherlands
Delta Lloyd
Canada
Pilot
France
Eurofil
References
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