On Monday, 1 June, Norwich Union, the UK’s largest insurer will complete its planned name change to Aviva as part of the group’s strategy to grow and transform as it competes globally.
On Monday, 1 June, Norwich Union, the UK’s largest insurer will complete its planned name change to Aviva as part of the group’s strategy to grow and transform as it competes globally. The international savings, investments and insurance group already trades as Aviva in most of its 28 markets across Europe, North America and Asia Pacific and the change in the UK is a key part of Aviva’s strategy of uniting the business behind a worldwide brand.
Aviva has grown from the merger of a number of businesses to become the fifth largest insurer in the world providing savings, investments and insurance to around 50 million customers.
Today’s change is part of the transformation set out by Andrew Moss, chief executive, in October 2007 in the "One Aviva, twice the value" vision, which aims to maximise the company’s full potential as a global group. A consistent, recognisable name and branding across its markets around the world is an important part of Aviva’s strategy to succeed in an increasingly competitive and global marketplace.
For Norwich Union customers, becoming Aviva is not just about a name change, it is also about being part of a company which is transforming itself to meet the needs of its customers. As part of a global company, Aviva customers in the UK will benefit from the group’s experience and expertise around the world, bringing improved products and services in the future.
Aviva customers will also be able to log on to the newly launched website www.aviva.co.uk, which brings significantly improved capabilities allowing customers to check prices against competitors to ensure they are getting the best deal for their insurance, and to manage, change and renew their policies online. A new market leading pension tracker system also gives new customers and advisers instant online access to their pensions. These new services are among the many changes Aviva is implementing to make life easier for its customers.
Aviva is now ranked as the fourth most valuable insurance brand in the world and in the UK the name change advertising campaign has proved highly effective; public awareness of the name change soared to around 80% following the initial burst of advertising and has remained high. Reduced levels of advertising because of the current economic climate mean that Aviva has been able to advertise at lower costs, achieve greater cut-through and has benefited from extra exposure, for example, when posters have remained on billboards after the paid-for booking has ended.
Andrew Moss said: “This is a key moment for Aviva. Over the past two years we have been working hard to bring Aviva businesses around the world closer together to maximise our full potential and to build the new Aviva around the needs of our customers. For our 54,000 staff across the world we’re bringing them together as one team under a common identity and together we are totally committed to making sure our move to a global brand brings many positive changes for our customers.
“Aviva’s trusted brand is one of our most valuable assets, particularly in the current economic environment when customers are looking for solid financial companies to save and invest with. Now is the right time to invest in our brand so that it adequately reflects the improvements we’re making in the service we give to our customers.”
Outside the UK, Aviva’s businesses in Ireland and Poland will complete the name change to Aviva in 2010.
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Media enquiries:
Vanessa Rhodes, group senior media relations manager
+44 (0) 20 7662 2482
Sue Winston, head of group media relations
+44 (0)20 7662 8221
Hayley Stimpson, external affairs director
+44 (0) 20 7662 7544
James Murgatroyd/Ed Simpkins, Finsbury
+44 (0)20 7251 3801
Notes to editors:
- A video interview with Amanda Mackenzie, Aviva’s chief marketing officer, on Aviva’s move to a global brand is available at www.aviva.com/globalbrand
- Photographs of the Aviva signs going up in Norwich will be available to download from our media centre later today at www.aviva.com/media
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
- For broadcast-standard video, please visit our video section
About Aviva plc
- Aviva is the international savings, investments and insurance group formed from the merger of Norwich Union and CGU in 2000. Following the merger the parent company, CGNU plc, operated under 40 major trading brands across the world until the Aviva brand was introduced in 2002.
- Aviva is the world’s fifth largest insurance group, serving 50 million customers across Europe, North America and Asia Pacific.
- Aviva's main business activities are long-term savings, fund management and general insurance, with worldwide total sales of £51.4 billion and funds under management of £381 billion at 31 December 2008.
- We are the largest insurance services provider in the UK and one of the leading providers of life and pension products in Europe.
- Approximately 60 per cent of Aviva’s business is now generated outside the UK (2000: 42 per cent).
- Aviva announced the establishment of Aviva Investors in 2008, which is the new identity for its new globally integrated investment management operation across 15 countries.
- As a specialist motoring services brand, the RAC name will not change. The Delta Lloyd brand (Netherlands) will also remain.
- Aviva’s "One Aviva, twice the value" vision seeks to bring its businesses closer together to maximise the full potential of the global group. Aviva has a target to double total IFRS total earnings per share by 2012 at the latest.
- The Aviva corporate website aviva.com will also relaunch on 1 June.
History of Norwich Union
- Norwich Union was formed in Norwich in 1797, first offering insurance against the risk of fire. In 1808 it expanded and established a life insurance company. In 1997 Norwich Union demutualised and floated as a public company on the London Stock Exchange, transforming itself into a FTSE 100 company.
- In 2000, Norwich Union merged with CGU to create CGNU plc (renamed Aviva in 2002). The Norwich Union name was retained for the long-term savings and general insurance businesses in the UK.
- Today Norwich Union remains a significant employer in Norwich, with approximately 6,500 staff servicing its UK life and general insurance operations. It is the headquarters for the UK general insurance business. Aviva will continue to build its global business on this strong foundation with its associated benefits to the local community.
- A full history of Norwich Union and other Aviva group companies can be accessed via the education centre on our website, www.aviva.com