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Aviva to make redundancies following AIG Life acquisition
Some employees of AIG Life are facing redundancy after the insurer was bought out by Aviva.
Aviva confirmed that some colleagues would be impacted by the £460m merger of the two companies, which completed in April.
A spokesperson for Aviva said: “Aviva’s intention is to keep as many people in the business as possible and the majority of roles will TUPE [Transfer of Undertakings (Protection of Employment)] into Aviva.
“There will be some roles impacted by the business announcement we made in June, however we are committed to providing opportunities to as many of these individuals as possible elsewhere in the wider Aviva group.
“A number of vacancies have been prioritised for AIG Life colleagues. We appreciate that this is an unsettling time for people and we will work through the process as quickly as possible.”
Aviva did not give details regarding how many jobs would be affected.
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The Aviva and AIG Life integration
Following the acquisition, Aviva said it wanted to retain aspects of the AIG Life business and, last week, phased out AIG Life-branded products. Changes were also made to the senior leadership team, including the departure of Phil Willcock, CEO of AIG Life.
Other employees were reappointed to new roles, such as Nick Austin, managing director of individual protection at AIG Life, who was hired to the newly created role of protection commercial director, and Fran Bruce, who was appointed to lead the combined business as managing director of protection.
In its last set of results covering the first six months of 2024, Aviva reported a 49% rise in protection sales to £205m, including the impact of the AIG Life buyout.