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Aviva to create 50 new jobs in Galway

7 November 2016

Aviva has announced it is to create 50 new jobs in its general insurance business in Galway.  The new roles which will be filled before year end will be in the Contact Centre, the Claims Handling Team and in the insurer’s new digital hub. Aviva already has 300 employees working out of its offices in Knocknacarra and today’s announcement will bring to 85 the number of new roles created in 2016.

“Our general insurance business is growing steadily and we need more people in our Galway Centre to serve our expanding customer base. So far this year, we’ve taken on 35 new employees and the additional 50 roles we are announcing today will help us build on the excellent customer service we are providing out of Galway. In addition, we are developing our digital hub in Knocknacarra as we seek to become the easiest insurer for our customers to do business with,” said Michelle White, Chief Operating Officer for Aviva General Insurance.

The new Galway Digital Hub will work with the digital team in Dublin to implement the company’s Digital First strategy.   Its specific focus will be on making the customer journey online or through the Aviva call centre as simple and convenient as possible.  Ten of the new positions will be for digital developers who will work on the company’s website and on developing mobile applications for customers. The Digital Hub is based in a new workspace in the Knocknacarra building which is designed to foster collaboration and innovation.

Fin Goulding, Aviva Chief Information Officer will visit NUIG at 6pm this evening to explain how digital technologies are transforming the 300 year old insurance industry. Fin, who joined Aviva earlier this year from Paddy Power says the tech scene in Galway is vibrant.  “There is an enormous amount of innovation in Galway in areas like agriculture, food, marine and the bio-medical field.  We want to attract some of that expertise and to add insurance to the areas of technical excellence to be found in Galway.  I’m looking forward to meeting the tech community here and opening their minds to what they could do for our industry.”

Aviva says its digital hub also offers opportunities for existing employees to develop and grow their careers.  “We have very talented and engaged people working for us in Galway. We want them to broaden their expertise and to help them reach their potential in a growing and sustainable business,” concluded Michelle White.

 

For media queries, please contact:
Emily Kelly, FleishmanHillard, 087-9759248 / Emily.kelly@fleishmaneurope.com.

Cathy Herbert, Head of Communications, Aviva, 087-2395393 / cathy.herbert@aviva.com.

 

About  Aviva

 

  • Aviva Ireland provides life insurance, general insurance, and investment and savings products to almost 1million customers
  • We employ 1,060 across our three locations in Dublin, Galway and Cork.
  • We are one of Ireland’s largest insurers and part of Aviva Group, which has to 33 million customers, across 16 markets in Europe, Asia and Canada
  • Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £289 billion in assets.
  • Aviva helps people save for the future and manage the risks of everyday life; across the Group we paid out £30.7 billion in benefits and claims in 2015.
  • By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
  • For further information please contact Cathy Herbert, Head of Communications on 0872395393.

 

AvivaIreland’s financial results for the year 2015

10 March 2016

IFRS operating profit
  • Aviva Ireland operating profit up by 39% at €85.0 million (€61.1 million at 31 December 2014)
  • Aviva Ireland operating profit (excluding non-insurance activity1) up by 32% at €91.2 million (€69 million at 31 December 2014)
Operating expenses
  • Operating expenses unchanged at €165 million
Value of new business
  • Value of new business in life & pensions up 97% at €22.2 million (€11.3 million at 31 December 2014)
Combined operating ratio
  • Combined operating ratio (GI business) improved by 2 percentage points to 94.6% (96.6% at 31 December 2014)
  • Combined operating ratio (Health business) in line with prior year at 95.7%
Cash flow
  • Cash remittance down2 23% at €73.6million (€95.9 million at 31 December 2014)

Hugh Hessing, Aviva Ireland Chief Executive Officer said:

“Today, Aviva Ireland is reporting its best performance in 5 years and a leading set of results within Aviva Group. Profit across the three businesses was up by 32% to €91.2m.

In our general insurance business, gross written premium grew by €48m year on year while our customer numbers grew by 6%. Our combined operating ratio, our key measure for profitability in general insurance, improved by 2 percentage points to 94.6% despite the increase in claims costs in the market. Continued focus on net profitable growth contributed to a 38.5% increase in profit (to €39.8m), largely driven by our commercial and personal property products. Despite floods in December, overall, 2015 was a benign year and the impact of weather was lower than our long term projections. We remain committed to fighting all suspected cases of fraud, irrespective of the cost and in the interests of our customers.

Our life insurance business made great progress with operating profits of €34m up 27% on last year. The value of new business, the future profit expected on business written last year, grew significantly in 2015, up 97% to €22.2m. Market share in pensions, savings products and protection grew from 6.5% (€14m) to 7.6% (€15m). By the end of 2015, customers had €150m invested in the AIMS (Aviva Investors Multi Strategy Fund) fund range and just under €1 bn in our Multi Asset Funds. As the economic recovery gathered pace in 2015, our compelling investment products attracted a significant increase in our share of a growing savings and investment market.

Following a challenging first half, the performance of our Health business picked up significantly in the third quarter of the year delivering a profit of €17.5m, up 43%(€12m). This performance was bolstered by prior year releases as well as lower than expected volumes of public hosptital claims and a reduction in the number of customers trading cover for lower premiums. The uplift in the health market as a result of the government’s Lifetime Community Rating initiative gave Aviva the opportunity to attract a higher proportion of new entrants than its market share.

We announced yesterday the sale of our health business to Irish Life. While this business has contributed to Aviva Ireland’s overall performance, the private health insurance market requires scale to deliver strong results. Aviva Ireland will now concentrate our capital on our two successful, core businesses of life and general insurance.

Today’s results show that our strategy of disciplined underwriting and risk management is working. Our business is underpinned by the solid foundation laid over the last two years and strenghtened by appointments that have enhanced our capability in key areas. As a result, we are now in a position to move ahead with the digital phase of our strategy which will simplify our business for our customers.

For further information, please contact:
Cathy Herbert
0035387 2395393

1 Non-insurance activity relates to the impact of pension deficit funding of the Ireland Group Staff pension scheme.

2 Cash returned to Group in 2014 was higher than usual due to a one off dividend prior to branching of Aviva Life and Pensions.

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