Aviva France, a major player in life insurance and long-term savings, announced on 28 October that its supervisory board had approved plans to change its mode of governance.
Aviva France, a major player in life insurance and long-term savings, announced on 28 October that its supervisory board had approved plans to change its mode of governance.
The project was approved by the general assembly on Friday 28 November. The "supervisory board/board of directors" mode of governance used by the company will become a "supervisory board/executive committee" model.
This change will allow Jean-Pierre Menanteau, president of the board of Aviva France since 1 October this year, to promote a management style which emphasises the sharing of information, greater involvement for management in decision-making and the faster implementation of decisions.
In essence, the timescale for the change was as follows:
- The general assembly of 28 October approved the creation of a new executive committee made up of the members of the former supervisory board plus Jean-Pierre Menanteau.
- The executive committee meeting of 1 December appointed Jean-Pierre Menanteau chairman and managing director and Andrea Moneta, CEO of Aviva Europe, vice-president. The executive committee also appointed Philippe Sorret and Jean-Luc François deputy directors general, to ensure the continuity of their duties on the previous board.
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Press contacts:
Anne Perthuis
Telephone: 01 47 04 19 49
E-mail: aperthuis@agencezap.com
Isabelle Solal-Céligny
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E-mail: isolal@agencezap.com
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 and €455 billion in assets under management at to 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 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 recognized for the excellent performance of its long-term funds and solid commitment to its clients through its "Good Advice" approach. Aviva employs more than 3300 staff in France. At 31 December 2007, Aviva France reported 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.