Aviva Gets Court Approval to Move Assets to Ireland as Part of Wider Brexit Wave

Article 0 Comments England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part […]

UK Insurer Aviva Prepares for ‘Hard Brexit’ by Transferring Assets from UK

Article 0 Comments Aviva Plc asked a London court to approve the transfer of assets totaling 9 billion euros ($10.2 billion), saying the uncertainty from Brexit was “intensifying” as it joined other insurers and banks triggering contingency plans. Aviva asked Judge Richard Snowden for permission to move the life-insurance policies […]

Shareholders Begin to Derail UK CEOs’ Gravy Train: Opinion

Article 0 Comments Boardroom pay is a contentious issue in the U.K., which is hardly surprising when top CEOs earn 145 times more on average than their workers. Shareholders have been slow to call time on the gravy train, probably because the stock-market boom has lined their pockets too. Yet […]

Aviva CEO’s Exit Shows a Board Moving Quickly to Placate Investors: Opinion

Article 0 Comments British insurer Aviva Plc has parted ways with CEO Mark Wilson, effective immediately, and given itself four months to find a successor. The manner of his sudden departure after almost six years may look harsh, but it’s not hard to see why: The shares have trailed peers […]

Update: UK Insurer Aviva to Replace CEO Wilson as Shareholders Seek Higher Returns

Article 0 Comments Aviva is replacing its chief executive Mark Wilson after his sweeping transformation of the British insurer did not deliver the returns shareholders were looking for. During his six years in charge, the high-profile 52-year-old New Zealander oversaw one of the biggest insurance takeovers in a decade by […]

Allianz’ CEO Seeks Big M&A – But He Doesn’t Want to Pay for It: Opinion

Article 0 Comments The CEO of Europe’s biggest insurer is up for a big deal. He just doesn’t want Allianz SE to pay for it. Oliver Baete is going to find it hard to have his cake and eat it. Three years into the job, and things are going well […]

Avoiding Post-Brexit Chaos in Insurance Market Is Top Concern of Bank of England

Article 0 Comments Avoiding chaos in the insurance market due to Britain’s European Union exit is a top Bank of England priority and making sure cross-border contracts continue to pay out after Brexit is a major concern, its deputy governor Sam Woods said. But a senior industry official said that […]