Amanda Blanc, the CEO of Aviva, has made notable comments that highlight a significant shift in the company’s strategy. Unlike in the past, when Aviva expanded its operations globally, Blanc’s approach is more focused on consolidation and streamlining. The company, formed in 2000 through the merger of Norwich Union and CGU, had previously amassed a substantial overseas portfolio across Europe, North America, and Asia.
However, under Blanc’s leadership, which began in 2020, Aviva has undergone a significant transformation. Within a short span of 18 months, the company divested eight of its overseas units, including operations in key markets such as France, Italy, Poland, and Singapore. This strategic move resulted in the raising of over £8 billion, which has been utilized to restore investor confidence through substantial capital returns.
Blanc’s deliberate contrast to the company’s past strategy is a testament to her vision for Aviva’s future. By shedding its global assets, the company is now more focused on its core operations, allowing it to concentrate on delivering value to its customers and stakeholders. The divestment of overseas units has also enabled Aviva to simplify its business, reduce complexity, and improve its overall efficiency.
The success of this strategy is evident in the significant capital returns that have been generated, which has helped to restore investor confidence in the company. Blanc’s leadership has been instrumental in shaping Aviva’s new direction, and her comments suggest that the company will continue to prioritize its core operations and deliver value to its stakeholders. Overall, Aviva’s shift in strategy under Blanc’s leadership marks a new chapter for the company, one that is focused on consolidation, simplification, and delivering long-term value to its customers and investors.