 | |
| Company type | Public |
|---|---|
| Industry | Insurance |
| Founded | 1908 |
| Headquarters | Dublin, Ireland |
| Products | Life Insurance Pensions |
| Parent | Aviva |
| Website | www |
Aviva Group Ireland plc is the Irish arm of British insurance firm Aviva plc. Its headquarters are in Dublin. The company also provides investment management and pension services.
D&B Hoovers reported in October 2010 that Aviva is the largest general insurer in Ireland, with a market share of more than 20% in the country. [1]
The company was established in 1908 as Hibernian. In 1925, the Guardian Assurance Company Ltd purchased a majority shareholding in the company and by 1931, it was offering fire, accident, motor, fidelity guarantee and plate glass insurance. Guardian Assurance sold the company to a consortium of Irish firms, including the Bank of Ireland, in 1935. [2]
The company started to transact engineering business in 1940, and in 1946 added marine insurance in partnership with the Irish National Insurance Company Ltd. In 1964, the Commercial Union Assurance Company Ltd acquired the majority shareholding from the Bank of Ireland and two years later changed the company’s name to the Hibernian Insurance Company Ltd. By 1969, Commercial Union owned 99.9% of shares in the company. [2]
A consortium of Irish investors acquired the majority shareholding in the company in 1979, while Commercial Union retained a 30% share of the company. The company was acquired by CGU plc in November 1999. It later became part of Aviva. [3]
In June 2008, the company announced that it was to transfer much of its operations to Bangalore, India with the loss of 580 jobs. [4] In the same year, Hibernian announced that it would be rebranding as Aviva as part of a global rebranding campaign to have all Aviva’s subsidiaries operate under the same name. [5] Also in 2008, the Central Bank of Ireland fined the company for various breaches of the Consumer Protection Code. [6]
The company dismantled its Dublin-based European holding company in April 2011, moving the operation from London. [7] In the same year, the Central Bank of Ireland again fined Aviva for failing to have proper controls and procedures surrounding the safeguarding of client assets. [8] [9]
In 2018, Aviva acquired the business of Friends' First from Dutch company Achmea. The business had earlier been part of Friends Provident until it was demutualised in 1992, rolled into Eureko and later rebranded as Friends' First in 1998. [10]
It was announced in February 2009 that the new stadium on Lansdowne Road in Dublin would be called the Aviva Stadium as a result of a ten-year deal with Aviva reported to be worth €40 million. [11]
Lansdowne Road Stadium was a stadium in Dublin owned by the Irish Rugby Football Union (IRFU) that was primarily used for rugby union and association football matches. The stadium was demolished in 2007 to make way for the Aviva Stadium on the same site, which opened in 2010.
Bank of Ireland Group plc is a commercial bank operation in Ireland and one of the traditional Big Four Irish banks. Historically the premier banking organisation in Ireland, the bank occupies a unique position in Irish banking history. At the core of the modern-day group is the old Governor and Company of the Bank of Ireland, the ancient institution established by royal charter in 1783.
Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc is a provider of personal financial services in Ireland. Irish Life Assurance plc and the Irish Permanent Building Society merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank in 2001. The group has no connection to the UK's TSB Bank.
Aviva plc is a British multinational insurance company headquartered in London, England. It has about 19 million customers across its core markets of the United Kingdom, Ireland and Canada. In the United Kingdom, Aviva is the largest general insurer and a leading life and pensions provider. Aviva is also the second largest general insurer in Canada.
Norwich Union was the name of insurance company Aviva's British arm before June 2009. It was originally established in 1797. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.
KBC Bank Ireland plc was a bank in Ireland with offices in Dublin, Cork, Limerick, Galway, Waterford and Belfast.
A State-Sponsored Body is the name given in Ireland to a state-owned enterprise, that is to say, a commercial business which is beneficially owned, either completely or majority, by the Irish Government. Each state-sponsored body has a sponsor Minister who acts as shareholder, either independently, or in conjunction with the Minister for Finance, who may also be a shareholder. State-sponsored bodies are often popularly called semi-state companies, a misnomer, since they are all (mostly) fully owned by the state, in addition not all of them are actually companies.
Old Mutual Limited is a pan-African investment, savings, insurance, and banking group. It is listed on the Johannesburg Stock Exchange, the Zimbabwe Stock Exchange, the Namibian Stock Exchange and the Botswana Stock Exchange. It was founded in South Africa by John Fairbairn in 1845 and was demutualised and listed on the London Stock Exchange and other stock exchanges in 1999. It introduced a new strategy, called 'managed separation', that entailed the separation of its four businesses – Old Mutual Emerging Markets, Nedbank, UK-based Old Mutual Wealth and Boston-based Old Mutual Asset Management (OMAM) – into standalone entities in 2018. This led to the demerger of Quilter plc and the unbundling of its shareholding in Nedbank. The business, which is now largely based in South Africa, provides sponsorship and supports bursaries at South African universities.
Axa XL is an American subsidiary of global insurance and reinsurance company Axa. It is headquartered in Stamford, Connecticut, domiciled in Hamilton, Bermuda, and has more than 100 offices on 6 continents.
AmBank Group comprises AMMB Holdings Berhad is one of the largest banking groups in Malaysia whose core businesses are retail banking, wholesale banking, Islamic banking, and life and general insurance.
Aviva Investors is an investment management company and is part of the Aviva group.
General Accident plc was a large insurance business based in Perth, Scotland. It merged with Commercial Union in 1998 to form CGU plc.
Commercial Union plc was a large insurance business based in London. It merged with General Accident in 1998 to form CGU plc.
CGU plc was a large insurance group, created by the merger of Commercial Union and General Accident in 1998. The company was listed on the London Stock Exchange. It merged with Norwich Union in 2000 to form CGNU plc, later renamed Aviva plc.
Aviva Canada Inc. is a Canadian property and casualty insurance company and a wholly owned subsidiary of the UK-based Aviva plc. It provides home, personal, automobile, recreational vehicle, group and business insurance to more than three million customers.
Friends Life Group Limited was a Guernsey-incorporated investment vehicle which had the stated intent of forcing consolidation in the British life insurance industry. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. It was acquired by Aviva on 13 April 2015.
North British and Mercantile Insurance Company was a British-based company founded in 1809 in Edinburgh and absorbed as a subsidiary of Commercial Union in 1959. The company was also known as the North British Insurance Company, North British Fire Office and North British Fire Insurance Company.
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
Liberty Kenya Holdings Limited is a major Kenyan Insurance company that is a subsidiary of the South African Liberty Holdings Limited, a Pan-African financial services company.
RL360 Insurance Company Limited (RL360°) is an international offshore savings, protection and investment provider, headquartered in the Isle of Man serving clients in Asia, Africa, the Middle East, Europe, the UK and Latin America. It is part of the International Financial Group Limited ("IFGL").
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