Our business

Chetan Singh appointed MD Annuities and Equity Release business

Chetan Singh

Aviva announces today that Chetan Singh has been appointed Managing Director of Annuities and Equity Release* with effect from 1 May 2021.  

Chetan, who is currently Aviva’s Chief Strategy and M&A Officer, led the transformation of Aviva’s portfolio, delivering eight divestments in the last eight months that will generate £7.5bn of total cash proceeds.  In his new role, he will report to Doug Brown, Chief Executive of Aviva UK and Ireland Life.  Prior to joining Aviva five years ago, Chetan held senior roles with JP Morgan and Citigroup.

Amanda Blanc, Aviva Chief Executive Officer, said:

“Aviva is a market leader in annuities and equity release and we have major ambitions to grow further in these attractive and strategically important markets. Chetan’s strong commercial strength and industry knowledge will help Aviva seize the considerable growth opportunities in annuities and equity release. In the bulk purchase annuity market alone, current forecasts estimate £30-50bn of flows per annum over the next decade. That’s a tremendous opportunity for Aviva to sustain the record volumes we have delivered in 2020 – and to go further.”

Chetan Singh said:

“I’m delighted to take on this exciting new role. The annuity and equity release business is a vital part of our Group strategy and a key growth area for Aviva. The Bulk Purchase Annuity business had a record year last year with sales of £6bn and has strong underlying growth potential.  Our equity release and individual annuity businesses form an integral part of the retirement options we offer to our customers in the UK.

“We will continue to work closely with Aviva Investors to seek infrastructure investment opportunities that support our annuities business and are in line with our commitment to be Net Zero by 2040. Aviva is a leading player across the annuities and equity release markets and I am excited at the potential to build on this and support our customers in their retirement.”

*subject to regulatory approval

Notes to editors:

  • For information on how Aviva is helping our people, customers and communities impacted by COVID-19 visit: www.aviva.com/covid-19-our-response/
  • We exist to be with people when it really matters, throughout their lives – to help them make the most of life. We have been taking care of people for more than 320 years, in line with our purpose of being ‘with you today, for a better tomorrow’.
  • In 2020, we paid £30.6 billion in claims and benefits to our customers. 
  • Aviva is invested in our people, our customers, our communities and our planet. In 2021, we announced our plan to become a Net Zero carbon emissions company by 2040, the most demanding target of any major insurance company in the world. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030. Aviva has been leading this agenda for decades: Aviva was the first international insurer to go operationally carbon neutral in 2006 and we are champions of renewable energy and energy storage at our offices, allowing us to achieve our 2030 carbon reduction target (70% reduction on 2010 levels) 10 years early. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition at www.aviva.com/sustainability.
  • Aviva is a Living Wage and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at www.aviva.com/social-purpose
  • We are focused on the UK, Ireland and Canada where we have leading market positions and significant potential. We will invest for growth in these markets. Our international businesses in Europe and Asia will be managed for long-term shareholder value. We will also transform our performance and improve our efficiency. Our transformation will be underpinned by managing our balance sheet prudently, reducing debt and increasing our financial resilience.
  • Total group assets under management at Aviva group are £535 billion and our Solvency II capital surplus is £13.0 billion (FY20). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
  • For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
  • The Aviva newsroom at www.aviva.com/newsroom includes links to our spokespeople images,  podcasts, research reports and our news release archive. Sign up to get the latest news from Aviva by email.
  • You can follow us on:
  • For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva
  • We have a Globelynx system for broadcast interviews. Please contact the Press Officer noted above if you would like to make a booking.

More from our Newsroom