Premium content: But broking bosses also hope Aviva UK restructure will not lead to change in strategy

Aviva UK restructure

Brokers have reacted positively to the news that Aviva is bringing its life and general insurance businesses under a single chief executive.

Earlier today Aviva said it was combining its life, general and health insurance business under Andy Briggs, who will become overall chief executive of UK insurance.

Aviva GI boss Colm Holmes remains in this role, while Maurice Tulloch becomes chief executive of international insurance in addition to his current role as global general insurance chairman.

Broking bosses spoken to by Insurance Times said the change was good for customers who typically liked to buy their financial services products from one place if they could.

Additonally, it will also bring cross-selling opportunities for brokers and lead to a greater shift away from any kind of silo culture within the business, where executives only consider their own division rather than the bigger picture.

Aston Scott group chief executive Peter Blanc said: “For Aviva one of the big unique selling points is that they are one the few composite insurers that can do life and health insurance. It makes sense to bring the two operations together.

“One of the ways to differentiate yourself as an insurer is to concentrate on the GI market or become a one stop shop for customers across a whole range of products.

“When you have a customer that buys more than five products from you, it is a great way of ensuring customer retention.”

Yutree managing director Kevin Hancock said he hoped the restructure would bring the process of dealing with the insurer on the life insurance in line with its general insurance service and make it much easier.

But he added that he would also adopt a “wait and see approach”, and hoped the changes would not lead to a change in strategy.