After clearing its final regulatory hurdle with the Competition and Markets Authority (CMA) yesterday, Aviva has announced the completion its acquisition of Direct Line Group, a mega merger set to make significant waves in the motor insurance market.
Jason Storah (pictured above), currently the CEO of UK & Ireland General Insurance at Aviva and now the CEO for the combined businesses, acknowledged the efforts of teams involved and welcomed the new employees from Direct Line.
“By combining the strengths of both organisations, we’ll be able to offer more to our customers and create value for our shareholders. It’s a step that makes sense for the long term - commercially, strategically, and culturally. Together we’ll build a leading business in UK personal lines, bringing the best of Aviva’s insurance, wealth and retirement expertise to millions more customers,” Storah said.
Additionally, Aviva also announced a new leadership structure for its personal lines division following the acquisition. Owen Morris has been named CEO of UK personal lines, with responsibility for both the Direct Line and Aviva personal lines businesses. He will report directly to Storah.
Several interim leadership appointments have also been made within the Direct Line business. These include Tom Latter as finance director, Michael Korner as motor managing director, Craig Thornton overseeing home, commercial and rescue, and Charlotte Moran in charge of customer operations.
Other appointments include Martin Milliner for claims, Jon Marsh for GI integration and transformation, Jane Storm as chief people officer, Kerry Chilvers for UKGI customer and marketing, David Hughes as chief information officer, Matt Ward as chief risk officer, Howard Grand as general counsel, Sharon Torpey as head of audit, and Sukhraj Takhar as chief controls officer.
All appointments are effective immediately.
Interim changes have also been implemented in Aviva’s existing personal lines business. Stuart Curson has been appointed managing director, Ellie Shepherd will oversee customer operations, James Raven is the new finance director, Wendy Moores is leading customer and marketing, and Nicola Wilson is handling transformation.
Aviva also said that it intends to merge both businesses into a single integrated personal lines operation over time. However, during the transition period, both entities will continue to run separately to ensure service continuity for customers and staff.
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