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Daily Insurance Industry News
Monday 15th of October 2018
April 29, 2008

Aviva drops Norwich Union brand

by Gill Montia

Story link: Aviva drops Norwich Union brand

Aviva drops Norwich Union brand

Aviva has shocked the UK insurance world with the news that it will be dropping its Norwich Union brand.

Norwich Union was formed in 1797 and has been a household name in general insurance for decades.

However, Aviva’s chief executive, Andrew Moss, is keen to have all the group’s products under one brand that can be recognised worldwide.

For this reason, Ireland’s Hibernian brand will also disappear, as will Commercial Union in Poland, although RAC, Aviva’s roadside recovery unit, and Delta Lloyd in Holland will retain their current names.

The rebranding is scheduled for completion in the next two years and is expected to achieve significant cost savings while at the same time increasing sales.

Aviva was created in 2000, when Norwich Union merged with CGU to form CGNU, which was later renamed Aviva.

Since the merger, the group has expanded its presence in Europe, the US and Asia; it now earns 60% of its revenue outside the UK.

The demise of the Norwich Union name does not mean that Aviva will be withdrawing from the city of Norwich, where it employs around 6,700 staff.

 

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