Aviva, the largest insurance group in the UK and fifth-largest worldwide based on gross premiums, announces Gerardo Aróstegui's decision to leave the group at the end of the year. At the age of 58, Aróstegui has been CEO of the Aviva group in the Spanish market for nearly 23 years.
- After 23 years at the head of the group in Spain, Gerardo Aróstegui has decided to step down.
Aviva, the largest insurance group in the UK and fifth-largest worldwide based on gross premiums, announces Gerardo Aróstegui's decision to leave the group at the end of the year. At the age of 58, Aróstegui has been CEO of the Aviva group in the Spanish market for nearly 23 years.
His replacement will be 37-year-old David Angulo who, until now, has been head of insurance at Abbey, the British bank which is part of the Santander Group. Prior to that, he was managing director of Aegon group's life insurance branch in Spain.
David Angulo will join the group on 1 October, as managing director of Aviva grupo corporativo, taking up his new role as CEO, and chairman of all Aviva's business units in Spain, at the beginning of 2008.
Gerardo Aróstegui has decided to step down after 23 years at the head of the group in Spain, having successfully developed a business model that has secured Aviva a leadership position in the Spanish life and pensions market. Aróstegui feels that the time is right to make way for a new generation that will continue building the business on the foundations already established, as well as laying new foundations to realise the group's considerable ambitions in the Spanish market.
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Notes to editors:
Aviva
Aviva is one of the leading European insurance groups in the life and pensions market.
In Spain, Aviva is a key player in the life insurance and pensions industry. It markets its products through professional brokers (Aviva Vida y Pensiones) and strategic alliances with some of the main Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja España, Caja Granada and Cajamurcia).