Aviva plc is a British multinational insurance company headquartered in London, England. It has about 25.3 million customers in the United Kingdom, Ireland and Canada. It is the UK's only diversified insurer, and also the second-largest general insurer in Canada.
Aviva has a primary listing on the London Stock Exchange, and is a constituent of the FTSE 100 Index.
Contents
Name
The name of the company upon its formation in May 2000 was CGNU plc and was created when Norwich Union merged with insurer CGU plc. In April 2002, the company's shareholders voted to change the company name to Aviva plc, an invented palindrome word derived from "viva", the Latin for 'alive' and designed to be short, memorable and work worldwide. The new company's logo incorporated a triangle, which is based on the spire of Norwich Cathedral. The Norwich Union brand was retained for the UK long-term savings and general insurance business.
In April 2008, Aviva announced that it would adopt the Aviva name as its worldwide consumer-facing brand, and that the Norwich Union brand would be phased out in the United Kingdom.
History
Aviva can trace its history back to the establishment of the Hand in Hand Fire & Life Insurance Society in London in 1696.
It was created by a merger of two British insurance firms, Norwich Union and CGU plc (itself created by the merger of 1998 of Commercial Union and General Accident) as CGNU in February 2000. The Aviva name was adopted in July 2002. Thereafter, most of the group operations, except for some strong local brands, were carried out under the uniform brand "Aviva".
In 2002, Aviva purchased Abeille Vie, a French life insurance company.
In March 2005, Aviva acquired the RAC plc breakdown recovery operation for around £1.1 billion.
In July 2006, Aviva greatly increased its presence in the United States by acquiring AmerUs Group, a Des Moines based financial services company, founded as the Brotherhood of American Yeomen in 1896, in a $2.9 billion (£1.6 billion) deal.
The launch was supported by a £9 million advertising campaign to promote the rebranding (one of the most expensive ever in the insurance field), with the participation of celebrities including Bruce Willis and Alice Cooper. 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).
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.
In September 2011, Aviva completed the sale of RAC plc breakdown recovery operation for £1.0 billion to The Carlyle Group. In February 2012, Aviva sold its occupational health business to the British support services company Capita.
Constituent companies
Aviva is the result of the merger of hundreds of insurance companies over several centuries. Aviva was originally formed as CGNU from the merger of CGU and Norwich Union.
CGU was formed in 1998 from the merger of Commercial Union and General Accident.
The Commercial Union Assurance Company was founded in 1861 as a result of insurance premium increases following the 1861 Tooley Street fire.
The Hand in Hand Fire and Life Insurance Society was established in 1696 as the Contributors for Insuring Houses, Chambers or Rooms from Loss by Fire, by Amicable Contribution. The name Hand in Hand came from its logo of two joined hands underneath a crown. In 1905 it became part of Commercial Union, at which time it was the oldest insurer in the UK.
The British General Insurance Company was established in 1904. It became part of Commercial Union in 1926.
The Northern and Employers Assurance Company was formed in 1960 from the Northern Assurance Company and the Employers' Liability Assurance Company. It was acquired by Commercial Union in 1968.
The Employers' Liability Assurance Corporation was established in 1880, the first company to offer employers' liability insurance. It became part of the Northern and Employers Assurance Company in 1960.
The North of Scotland Fire and Life Assurance Company was formed in Aberdeen in 1836, and took the name Northern Assurance Company in 1848. It became part of the Northern and Employers Assurance Company in 1960.
The White Cross Insurance Association was founded in 1906. Originally called the Red Cross Indemnity Assurance Company it was renamed in 1912 due to the restrictions on the red cross name and symbol placed by international law. It became part of Commercial Union in 1968.
Operations
Aviva's main activities are the provision of general and life insurance, long term savings products and fund management services. The group has around 36,000 employees and 25.3 million customers. Aviva Investors has £273 billion assets under management as of 30 June 2026.
Finances
Total income for 2016–2021 includes net investment income and other income; insurance revenue from 2022 follows IFRS 17 and is a different measure. The two revenue series are not directly comparable.