Aviva’s decision to sell Friends Provident International (FPI) to RL360° for £340m ($444m, €384m) is “a game changer” for the life insurance industry, David Kneeshaw, chief executive of RL360°, told International Adviser.
An Old Mutual director is to run for president of Zimbabwe, while Old Mutual Asset Management and Axa Asia are both losing their chief executives. Deutsche Bank Wealth Management has appointed a former Coutts & Co chief executive to head up its UK business.
BlackRock has lost an ex-Barclays chief executive from its board after he was charged by the UK’s Serious Fraud Office. Deutsche Bank has ramped up its anti-financial crime divisionwith two senior hires, while Aviva has appointed its chief executive of international insurance to the company’s board.
An ornamental Formula One car, a life-sized dinosaur statue and a Star Wars collection are some of the more unusual insurance requests that Aviva has handled over the past 10 years.
Aviva is looking at offering advice to UK customers looking to transfer out of their final salary pensions in response to rising consumer demand.
Legal & General will shift some of its business to Dublin once Britain leaves the European Union, while rival insurer Aviva is in the process converting its Irish life and general insurance branches into subsidiaries as the firms prepare for the post-Brexit environment.
Aviva will sell interests in two bancassurance agreements and a life business to Santalucia, raising €475m (£403m, $517m), as the UK insurer looks to wind down its operations in Spain.
Aviva’s life insurance joint venture in Vietnam has become a wholly-owned subsidiary after the UK insurer acquired the entire 50% share capital of its former partner, VietinBank.
The Money Advice Service has named its new chief executive, while a Schroders veteran confirms his “non-dramatic” departure. Aviva Investors has appointed a senior client solutions director.
Australian insurer AMP has completely overhauled its advice business and announced a raft of senior changes, while Aviva Asia and Sun Life Financial both made a series of executive appointments this week.
Friends Provident International is up for sale with Utmost Wealth Solutions as the ‘most likely’ buyer, according to a source close to International Adviser.
Given the mixed fortunes of life companies, can they handle the tough balancing act of asset management?
