With the announcement on Tuesday, April 29, that it intends to unite all of its businesses under the name Aviva, the UK’s largest insurer turned the page on one of the oldest names in the country’s insurance business. Norwich Union will soon be consigned to the history books, along with Commercial Union Poland and Hibernian, all of which will become Aviva.
The Company’s announcement described the move as positioning “Aviva to compete even more effectively on a global scale.” The move comes 8 years after the merger of CGU and Norwich Union that created Aviva. The official name was changed from CGNU to Aviva in 2002 (See IJ web site – https://www.insurancejournal.com/news/international/2002/07/02/17761.htm).
“The company will complete the transition to a global brand over the next two years, with Norwich Union (UK), Commercial Union Poland and Hibernian (Ireland) becoming Aviva, in October 2007,” said the bulletin.
Group chief executive, Andrew Moss, set out his vision to maximize the company’s full potential as a global group, summarized as ‘One Aviva, twice the value’. He indicated that the brand name change signals a period of transformation for Aviva, bringing together relatively autonomous business units to create ‘One Aviva’ with a clear growth agenda in an increasingly global and competitive marketplace.
“This is an exciting time for us as we build a world class business with strong growth potential,” Moss stated. “For Aviva to continue to thrive we have to compete effectively on the world stage alongside our international peers. Creating a brand that is known across the globe is an important step in being recognized as a worldwide force in financial services and an important milestone in delivering our ‘One Aviva, twice the value’ vision.”
Moss did render homage to the Company’s history, referring to its “strong heritage with its roots in Norwich Union, Commercial Union and General Accident. These great companies succeeded because they took decisive action to develop their businesses and helped their customers to thrive and prosper. We will continue to build our global business upon this strong foundation.”
Source: Aviva – www.aviva.com
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