Aviva restructures European business

22nd Oct 2009 07:28

Aviva has announced that it is restructuring its European operations, turning its 12 separate continental businesses into a single pan-European unit.The insurance giant has established a new pan-European management team and will centralise its operations allowing it to build a pan-European approach to distribution, simplify its product range and shorten the time to launch new products to customers. By moving to a pan-European operating model Aviva said it will make significant efficiency gains and build competitive advantage in the region. As part of the restructuring of the business, Aviva has established a single holding company for its European operations in Ireland. 'Aviva is taking a quantum leap in Europe with one way of operating across the region,' said Andrea Moneta, chief executive, Europe.'This will improve the quality of our products, drive efficiency and create significant value for Aviva's customers and shareholders.'