| Type | Public limited company |
|---|---|
| Traded as | (LSE: AV NYSE: AV) |
| Industry | Insurance |
| Founded | 2000 |
| Headquarters | St Helen's Tower London, United Kingdom |
| Key people | Lord Sharman, Chairman Andrew Moss, CEO |
| Products | Life insurance Pensions General Insurance |
| Revenue | £58,401 million (2010)[1] |
| Operating income | £2,834 million (2010)[1] |
| Net income | £1,892 million (2010)[1] |
| Employees | 46,000 (2010)[2] |
| Website | aviva.com |
Aviva plc (LSE: AV., NYSE: AV) is a global insurance company headquartered in London, United Kingdom. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries.[3] It is the market leader in both general insurance and life and pensions in the UK and has major businesses in Continental Europe, North America and Asia.[3]
Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange.
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Aviva can trace its history back to Hand in Hand Fire & Life Insurance Society in 1696.[4]
It was created by a merger of two British insurance firms, Norwich Union and CGU plc[5] (itself created by the 1998 merger of Commercial Union and General Accident[6]) as CGNU 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.[7]
In July 2006, Aviva greatly increased its presence in the United States by acquiring AmerUs Group, a financial services company founded in 1896.[8] Aviva Corp. is not affiliated with Aviva Energy Corp., an energy consulting firm based in the U.S.
The Company continued to use the Norwich Union name as a trading name in the UK 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.[9] In January 2010, the process of Aviva's rebrand was formally recognised when they appeared on the shortlist of the Transform Awards for rebranding and brand transformation in a number of categories[10]
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).[11]
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 to play the part of a successful hairdresser running three salons. The message of the campaign focused on business insurance through insurance brokers.[12] The closing line of the campaign was "We're in business to keep you in business".
In September 2011, Aviva plc completed the sale of RAC plc breakdown recovery operation for £1.0 billion to The Carlyle Group.[13]
The Company's main activities are general and life insurance as well as long-term savings and fund management. It has around £379 billion of assets under management. The group has 46,000 employees, serving 53 million customers worldwide.
Aviva was the first insurance company to become carbon neutral globally.[14]
CEO Richard Harvey retired on 11 July 2007. His successor was Andrew Moss, the former group finance director.[15] Moss is paid an annual base salary of £925,000 for his role as Chief Executive.[16]
In May 2008 Aviva became Norwich City Football Club's main sponsor. 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.[17] It also acquired the naming rights for the redeveloped Lansdowne Road stadium in Dublin, Ireland, and will now be called the Aviva Stadium.[18]
In 2010, Aviva also took over sponsorship of rugby union's English Premiership from Guinness. The four-year sponsorship deal is valued at £20 million.[19]
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