Aviva France, a major player in life assurance and long-term savings, asset management and non-life insurance, has announced that changes to its mode of governance have been approved by its supervisory board.
Aviva France, a major player in life assurance and long-term savings, asset management and non-life insurance, has announced that changes to its mode of governance have been approved by its supervisory board. The "supervisory board/board of directors" mode of governance becomes "supervisory board/executive committee". This new mode of governance will be proposed to the General Assembly at the end of November.
This change will allow Jean-Pierre Menanteau, president of the board of Aviva France since 1 October, to promote a style of management which reinforces the exchange of information, greater management involvement in decision-making and accelerated implementation of decisions.
In essence, the following will be proposed to the General Assembly:
- The creation of an executive board, made up of current members of the supervisory board and Jean-Pierre Menanteau, in his capacity as chairman and managing director, and Andrea Moneta, CEO of Aviva Europe, as deputy chairman.
- In order to ensure the continuity of their duties on the current board of directors, Philippe Sorret and Jean-Luc François to be appointed as deputy directors general.
The General Assembly will be convened at the end of November to approve these changes to Aviva France's governance, which will be effective from that date.
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Press contacts:
Estelle Joubert
Telephone: 01 76 62 57 86
E-mail: estelle_joubert@aviva.fr
Laurent Gibert
Telephone: 01 76 62 73 00
E-mail: laurent_gibert@aviva.fr
Notes to editors:
About Aviva
Aviva is Europe's leading provider of life assurance and pension savings with strong positions on other markets around the world. Based on gross premiums at 31 December 2007, Aviva was the world's fifth-largest insurance group. Aviva's three principal businesses are life assurance and long-term savings, asset management and non-life insurance, with a total turnover of €56.7 billion in 2007 and €455 billion in assets under management at 30 June 2008.
With more than 150 years' experience in France, Aviva is one of the top 10 players in the insurance market. Aviva France stands out from the crowd with its solid, balanced and profitable multi-distribution model: 875 general agents, 1800 branch staff, 400 life assurance advisers and more than 1000 brokers. Aviva also has major partners such as AFER, the largest savings association in France, the Crédit du Nord Group, the Union Financière de France and Médéric. Specialising in unit-linked products, Aviva is recognised for the excellent performance of its long-term funds and solid commitment to its customers through its "Good Advice" approach. Aviva employs more than 3300 staff in France.
At 31 December 2007, Aviva France recorded consolidated sales of €6.5 billion and an IFRS net profit of €338 million. The company managed assets of €71.4 billion at 30 June 2008.