Category: Aviva Life Insurance

Aviva’s Acquisition of AIG Life to Be Probed by U.K. Regulator — Update

Published: Feb. 8, 2024 at 5:48 a.m. ET

By Ian Walker The U.K.’s competition watchdog has opened an investigation into whether Aviva’s acquisition of AIG Life would lead to a substantial lessening of competition within its markets. The Competition and Markets Authority said Thursday that it is inviting comments from interested parties on the deal ahead of a formal decision. It set…

By Ian Walker
The U.K.’s competition watchdog has opened an investigation into…
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Source: https://www.marketwatch.com/amp/story/aviva-s-acquisition-of-aig-life-to-be-probed-by-u-k-regulator-update-c2672f13

Aviva deal probed by CMA

The Competition & Markets Authority has opened an investigation into the anticipated acquisition by Aviva of AIG Life.The deal announced in September 2023 was hailed as potentially beneficial to Aviva’s wider SME and high net worth proposition adding 1.3m individual protection customers and 1.4m group protection members to its client base. RelatedAviva boosts UK SME and HNW proposition with £460m AIG Life swoop Aviva has bought AIG Life from Corebridge Financial, a quoted…
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Source: https://www.insuranceage.co.uk/insurer/7954467/aviva-deal-probed-by-cma

UK Regulator Investigates Aviva’s Acquisition of AIG’s Life Insurance Business

Britain’s Competition and Markets Authority (CMA) has embarked on an investigation into the acquisition of AIG’s life insurance business by Aviva, the country’s largest insurance company. The probe, announced on Thursday, comes amid concerns that the merger could lead to a significant reduction in market competition.Investigation Into Aviva’s AcquisitionThe CMA, acting as the antitrust watchdog, is scrutinizing the deal that Aviva…
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Source: https://bnnbreaking.com/finance-nav/uk-regulator-investigates-avivas-acquisition-of-aigs-life-insurance-business

The dos and don’ts of a half-term holiday, according to an insurance provider

Recent research from Aviva reveals that over a third of Brits (35%) are choosing to holiday in the UK this year, and 37% are opting to holiday abroad. With this in mind and half-term just around the corner, Aviva’s Kelly Whittington, Director of Travel Claims, has pulled together the ultimate check list to help give you peace of mind when it comes to protecting you and your finances: 1. DO purchase travel insurance as soon as you’ve booked your holiday – and that means…
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Source: https://www.aviva.com/newsroom/news-releases/2024/02/the-dos-and-donts-of-a-half-term-holiday-according-to-an-insurance-provider/

Aviva and TCS expand partnership to “transform” UK Life customer experience

Tata Consultancy Services (TCS) has expanded its Aviva partnership with a new 15-year agreement to transform the insurer’s UK Life business and enhance customer experience leveraging the TCS BaNCSTM based platform.
The partnership is to serve over 5.5 million Life and Pensions policies further enhancing TCS’ growth momentum in the UK
According to the announcement, the end-to-end policy administration and servicing of these policies will be managed by Diligenta, TCS’ FCA regulated…
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Source: https://www.reinsurancene.ws/aviva-and-tcs-expand-partnership-to-transform-uk-life-customer-experience/

Aviva prioritises internal regional improvements to demonstrate ‘commitment to supporting brokers’

In 2022, insurer Aviva was one of two firms to achieve a much coveted five star status in Insurance Times’ Five Star Rating Report: Commercial Lines 2022. 
However, last year’s findings show that Aviva experienced a setback in 2023, dropping down to an overall four star score in the Five Star Rating Report: Commercial Lines and Personal Lines 2022/23.

This can primarily be attributed to the insurer losing a star against the report’s overall relationship management metric,…
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Source: https://www.insurancetimes.co.uk/news/aviva-prioritises-internal-regional-improvements-to-demonstrate-commitment-to-supporting-brokers/1451091.article

Aviva leaders on simplification for brokers at heart of changes

Aviva’s 2023 actions will see it move up the gears with brokers this year, according to leaders Ryan Birbeck and Michael Yabantu.Last year saw a string of broker-impacting changes at Aviva from several high-profile appointments to a commercial restructure.David Martin started as managing director of UKGI distribution & SME in April and in July it unveiled new structures for its commercial lines business, consisting of SME, Global Corporate and Specialty and distribution.In…
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Source: https://www.insuranceage.co.uk/insight/7954436/aviva-leaders-on-simplification-for-brokers-at-heart-of-changes

TCS expands strategic partnership with Aviva as part of 15-year deal

The IT firm said that, as part of the deal, end-to-end policy administration and servicing will expand to cover over 5.5 million policies, to be managed by Diligenta, TCS’s Financial Conduct Authority regulated subsidiary in the UK, on behalf of Aviva.
TCS said its approach to digitization is centred around new consumer duty principles to provide good outcomes – something it delivers through self-service capabilities for customers, digitally powered service delivery centres and a simplified…
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Source: https://www.professionalpensions.com/news/4169555/tcs-expands-strategic-partnership-aviva-deal