Aviva has detailed its technique for the safety enterprise following the completion of its acquisition of AIG Life’s UK safety enterprise.
The £460m ($579.6m) transfer, which was finalised in April 2024, strengthens Aviva’s standing within the UK safety market and features a administration reshuffle and the merging of sure product options.
Aviva managing director of safety Fran Bruce, as reported by the FT Adviser, stated: “We’re happy to have the ability to give readability to our colleagues, prospects, intermediaries, and companions about our plans for our future product choices.
“There are nice parts about every of our respective propositions that complement one another effectively and we consider the mixed options will assist us realise our development ambitions within the safety market.
“Over time, our intention is to proceed enhancing our propositions and merchandise with the mixed data and experience that we now have gained by the acquisition of the AIG Life enterprise and their gifted folks.”
The insurer expressed its intention to protect key parts of AIG Life’s operations, notably its high-net-worth channel and sturdy partnership distribution.
Entry essentially the most complete Firm Profiles
in the marketplace, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
useful
choice for your corporation, so we provide a free pattern that you could obtain by
submitting the under type
By GlobalData
Aviva will preserve AIG Life’s product choices within the high-net-worth market, the place it at present lacks sure choices, and goals to develop its capabilities on this section.
Continuity is assured for AIG Life’s present single-tie and contractual relationships, with new enterprise continuing below the AIG Life model.
Nevertheless, Aviva plans to streamline its particular person and group safety merchandise, providing solely Aviva-branded core propositions for brand new intermediated enterprise.
Present AIG Life Group Safety schemes will stay unchanged, and prospects will nonetheless have entry to AIG Sensible Well being advantages.
Phil Willcock, CEO of AIG Life, has introduced his departure later within the yr after a five-year tenure.
Nick Austin, AIG Life’s managing director of particular person safety, will step into a brand new function as safety industrial director.
