Aviva Life Insurance today announced that Stuart Purdy, managing director is moving to Ireland in September 2006 to head Aviva’s Life operations and to take up the position of deputy chief executive of Hibernian Insurance group, Ireland’s leading composite insurer.
Aviva Life Insurance today announced that Stuart Purdy, managing director is moving to Ireland in September 2006 to head Aviva’s Life operations and to take up the position of deputy chief executive of Hibernian Insurance group, Ireland’s leading composite insurer. Hibernian is a wholly owned subsidiary of Aviva and one of Aviva group’s larger businesses in the world.
Stuart Purdy was responsible for launching the company’s operations in India in 2002 and in less than four years, the company has grown to 105 branches with more than 12,000 employees and agents. Aviva entered the Indian market as the 12th player and has now moved up to the 7th position among the private players due to the aggressive growth strategy.
A further announcement regarding the successor to the position of managing director Aviva India will be made shortly.
Speaking on the occasion Stuart Purdy, managing director Aviva India, said: “India is a very important market for us and I am proud to have had the opportunity to work here. Already India has become the largest business for Aviva in Asia, and with the growth rates that we have planned, Aviva India will be among the leading businesses in Aviva in the next few years. With our leadership in bancassurance and our expanding agency base, the Indian business will achieve even greater heights.”
In his new role, Stuart will initially be responsible for Aviva’s two Life Companies in Ireland, Hibernian Life and Ark Life. Aviva recently entered into a joint venture with Ireland’s leading Bank, Allied Irish Banks, offering access to the bank’s 1.6 million retail customer base.
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For further information, please contact:
Pooja Garg Khan
Aviva Life Insurance
Phone: 95124-2804141
E-mail: pooja.khan@avivaindia.com
Notes to editors:
About Aviva Life Insurance
Aviva Life Insurance is a joint venture between Dabur and Aviva. Current paid up capital amounts to 320 Crores. Dabur are the 74% shareholder and Aviva the 26% shareholder. Aviva plc is the UK’s largest insurance group and the world’s oldest insurance Group, with a history dating back to 1696. Today, it is the sixth largest insurer worldwide, with 30 million customers and Ł291 billion assets under management. Prior to nationalization, Aviva was the biggest of the foreign insurers operating in the Indian market.
Founded in 1884, Dabur is one of India’s oldest and largest groups of companies with the group’s consolidated annual sales in excess of Rs 1,537 crores. A professionally managed company it is the country’s leading producer of traditional healthcare products.
Aviva pioneered the concept of bancassurance in India, and has leveraged its global expertise in this area successfully in India. Bancassurance has been contributing close to 65% of the total sales of Aviva India. Through its branches and its bancassurance partner locations, Aviva products are available in 353 towns and cities across India.
Aviva’s products have been designed in a manner to provide customers flexibility, transparency and value for money. We have been among the first companies to introduce unit linked products in the market.
Aviva has a unique need based sales approach through the “financial health check” (FHC). The FHC is a free service administered by our FPAs (financial planning advisers) for a need-based analysis of the customer’s long-term savings and insurance needs. Depending on the life stage and earnings of the customer, the financial health check assesses and recommends the right insurance product for them.
Aviva is also keen to reach out to the underprivileged that have not had access to insurance so far. Through its association with BASIX (a micro financial institution) and other NGOs, it has been able to cover lakhs of lives.