Connect with us

Hi, what are you looking for?

Loan And Finance

Aviva enters exclusive discussions with High Net Worth specialist MGA Azur

aviva 1 8


Aviva has entered into exclusive negotiations with the specialist managing general agent Azur Underwriting Ltd to acquire its High-Net-Worth personal lines business in the UK and Ireland and transfer its expert team to Aviva under TUPE terms.

The acquisition supports Aviva’s ambition to become the market leader in the High-Net-Worth personal lines market. On completion, the acquisition will build on Aviva’s strong existing distribution relationships, enabling the insurer to deliver an unrivalled proposition and efficient service to brokers in the High-Net-Worth market.

The Aviva Private Clients business has grown significantly during the past year with the successful transfer of the AXA XL Private Clients team and business. The Azur team and its innovative digital platform provides an opportunity to further strengthen Aviva’s presence in a fast evolving, growth market.

The transaction would be funded by Aviva Insurance Limited with no impact to planned cash remittances.

Adam Winslow, CEO, Aviva UK & Ireland General Insurance, said:

“Our ambition is to be the number one insurer in the High-Net-Worth market, where we know there is strong demand for specialist insurance from customers with valuable properties and possessions. We have already shown our commitment with the successful AXA XL Private Clients transfer and are excited by the opportunity to combine these capabilities with those of Azur. The Azur team has proven experience in providing a trusted service and its digital capabilities complements our business approach. Bringing the two teams together will accelerate our growth plans and I look forward to progressing our discussions.” 

We will further update the market on material developments as discussions progress.

Advertisement. Scroll to continue reading.



Source link

Click to comment

Leave a Reply

Latest

Top Stories

FTX founder Sam Bankman-Fried and Alameda Ventures made recent headlines for bailing out a handful of CeFi crypto platforms this week, but what exactly...

Top Stories

Although Bitcoin is struggling to form a bottom, altcoins are on a roll and the current price action could benefit UNI, XLM, THETA and...

Top Stories

Ethereum’s native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in...

Top Stories

The company enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. Source link

Technology

Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit...

Top Stories

Bitcoin (BTC) made the most of weekend volatility on June 26 as a squeeze saw BTC/USD reach its highest in over a week. BTC/USD...

Advertisement

You May Also Like

Uncategorized

Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...

Advertisement