INSURANCE giant Aviva has brought its UK life and general insurance operations under the leadership of a single chief executive.
Mark Hodges, currently head of the company's UK life and pensions business, was yesterday promoted to the role.
Meanwhile, Igal Mayer, the present UK general insurance chief executive, is to take over leadership of the company's North American op
eration.
Hodges joined Aviva in 1991 and has also been managing director of its general insurance business.
The appointments follow a restructuring involving thousands of job losses across the life and general insurance operations. Aviva said the move to bring the two businesses closer together would enable it to serve customers more effectively. All its UK operations now use the Aviva brand, having replaced the Norwich Union name this year.
Andrew Moss, group chief executive, said the tie-up would allow the businesses to maximise their full potential in the company's home market. He said: "Igal and Mark have done a great job in getting the best from our UK businesses and making them fit for the future."
The York-based life and pensions business employs 8,000, while 13,000 work for the general insurance arm, headquartered in Norwich. A further 1,700 staff provide shared services for both businesses.
Earlier this week, the company confirmed plans for what is expected to be the largest European flotation this year as it reduces its stake in Delta Lloyd, its Dutch business. Aviva intends to list the business on Euronext's Amsterdam exchange, potentially next month.
Shares in Aviva closed down 0.7p yesterday, at 450.4p.
• The Treasury yesterday appointed a Bank of England veteran as a senior adviser on financial stability.
Alastair Clark, 60, who began his career with the Bank in 1971, will work two days a week at the department. He was the Bank's executive director for financial stability between 1997 and 2003 and an adviser to governor Mervyn King for a further four years. He retired in 2007 but was asked back in the early stages of the credit crunch before finishing his career a year ago.
