Former UK GI chief executive lands role as European head
Former Aviva UK general insurance chief executive Igal Mayer is returning to London from North America as head of Aviva's European business.
Mayer left Aviva UK in October 2009. It followed a run-in with consoldiators over commission payments, which he believed were too high.
He left for the North American business, where his tenure has been considered a success.
"Under his leadership, the North American business has achieved a significant improvement in performance, with IFRS profits increasing by over 100% (at 30 June 2010) and the internal rate of return doubling to 14% (at third quarter 2010)," an Aviva statement said.
"Aviva’s strategy update announced in November 2010 reinforced the importance and potential of the European region. Igal’s 20 years of experience at Aviva and his success in delivering excellent results will be invaluable to the business."
The move follows the departure of Andrea Moneta, chief executive of Europe Middle East Africa (EMEA), who is leaving Aviva at the end of February by mutual consent to pursue new challenges in the financial services sector.
The statement continued: "Moneta has been instrumental in successfully establishing Aviva’s European transformation programme. The benefits of the transformation are coming through, with the region producing a 10% increase in total sales and internal rates of return maintained at 12% (at third quarter 2010). The European business continues to perform strongly"
Richard Hoskins, who is currently chief financial officer in North America, will become chief exeuctive of the region, subject to regulatory approval, and will join Aviva’s executive committee.
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