Aviva Italia Holding SpA shareholders' meeting took place today in its offices in Milan under the chairmanship of Cesare Brugola.
- Michaud appointed as new managing director
Aviva Italia Holding SpA shareholders' meeting took place today in its offices in Milan under the chairmanship of Cesare Brugola. The Aviva group in Italy's consolidated financial statement was approved for the 2007 financial year, which closed with gross profits of €4,255 million, technical reserves of €17,162 million and managed funds of €17,488 million. These were determined using the national accounting principles.
The chairman, Cesare Brugola, expressed total satisfaction for the best result ever achieved by Aviva in Italy. The good results, in contrast to the trend of the Italian market, have allowed the insurance group to achieve fifth position in the Italian market with a market share of 6.23% in the life insurance sector.
Additionally, today Aviva announced an important date in the terms of the key players within the group. Massimo Michaud has been nominated as managing director of the Aviva group in Italy, while Massimo Michaud will continue to act as head of the group in the role of executive chairman with specific responsibilities in the area of relations with banking partners.
Massimo Machaud has the advantage of several years of experience in the finance and insurance sector, both in Italy and in Europe. From 2001, he has been in the role of managing director at Axa Insurance, where he previously assumed the role of general manager. Michaud has also spent five years with the general insurance group in its offices in France and Belgium, as general manager. His career started at McKinsey in 1986, maturing with nine years of experience in different roles, primarily focusing on the area of financial services.
The executive president, Cesare Brugola, was able to ensure the company a constant and fast ascent in the Italian market, and place Aviva in fifth position in terms of gross premium profits, and worked in the capacity of managing director for the Group from 1988 until now.
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For further information:
Aviva Group in Italy
Telephone: +39 02 2775 455
Notes to editors:
The AVIVA group, in existence for three hundred years in the world-wide insurance industry, is the 5th insurance group in the world in terms of distribution and volume of business, at the service of 45 million customers in over 27 countries around the world.
It has been present in Italy since 1921 and has around 500 employees, 800 agents and active brokers throughout the country, 6,200 bank counters and 5,000 financial promoters who market the Group's products. The company has strategic partnership agreements with key Italian banking and credit institutions such as the Unicredit Group, UBI Banca Group and Banco Popolare.