Aviva Names Former Friends Provident CEO to Lead UK Region
June 4, 2011 by Lori Chordas
LONDON June 02 (BestWire) — Former Friends Life’s vice chairman Trevor Matthews is slated to lead Aviva plc in the United Kingdom.
Matthews has been named as chief executive officer of the U.K. region and as an executive director of Aviva. The appointment is subject to FSA approval.
He succeeds Mark Hodges, who on June 2 resigned from the board of Aviva plc. Hodges will become Towergate Insurance’s group chief executive.
Matthews was previously CEO of Friends Provident Holdings (UK) plc. The company also announced Matthews has resigned the vice chairman post — a job he started just one day ago on June 1 after being replaced as CEO by Andy Briggs.
While at Friends Provident, he was responsible for leading the company through its acquisition by Resolution in 2009 and for the successful takeover and integration of the majority of Axa UK’s life business in September 2010 and Bupa’s life insurance business in January.
Matthews was also chief executive of Standard Life’s UK life and pensions business, president and CEO of Manulife in Japan, chairman of Manulife Bank in Canada and managing director of Legal & General’s life insurance business in Australia. He is chairman of the Financial Skills Partnership in the United Kingdom, a board member of the Association of British Insurers and was formerly president of the Chartered Insurance Institute.
UK Life CEO David Barral and David McMillan, CEO of UK General Insurance, will continue to run Aviva’s insurance operations in the United Kingdom, and will be responsible for further improving profitability, expanding distribution and serving customers’ needs.
Aviva UK, which offers life, health and general insurance, serves 19 million customers. In May, the company reported a 9% rise in first-quarter general insurance premiums but a drop in long-term savings sales contributed to a 9% decrease in total worldwide sales (BestWire, May 17, 2011).
Last month, Aviva plc was appointed a preferred strategic partner of international financial services group HSBC for bancassurance distribution across the United Kingdom and Europe.
Several of Aviva plc’s subsidiaries have a current Best’s Financial Strength Rating of A (Excellent).
(By Lori Chordas, senior associate editor, Best’s Review: Lori.Chordas@ambest.com)BN-NJ-06-02-2011 1550 ET #
