AVIVA PLC Profile
Aviva PLC is a British insurance company that provides insurance, savings, general and health insurance, and various fund management products and services on a global scale. The company can trace its history back to the Hand in Hand Fire & Life Insurance Society that was established in London in 1696. The current company itself would be created out of a merger between two major British insurance firms, the Norwich Union, which can trace its history back to the Amicable Society established in 1706, and CGU plc, which was created out of a merger in 1998 between Commercial Union and General Accident, and would be known as CGNU in 2000. Two years later the company would discard its CGNU name in favor of the Aviva name. The company, itself formed out of mergers, would then utilize acquisitions to fuel its expansion, acquiring the RAC plc breakdown recovery operation in 2005 and the AmerUs Group, renamed to Aviva USA, in 2006 to increase its presence in the U.S. However, in the 2010s, the company would focus on selling off various non-core businesses in order to simplify its activities, including the sale of RAC plc, its occupational health business, and its operations in South Korea. Aviva PLC currently operates through a variety of principal subsidiaries including various businesses in the UK, such as Aviva Life, Aviva Insurance, and Aviva Investors, Canada, China, France, Hong Kong, India, Indonesia, and others with over 34 million clients. The company currently has over 28,000 employees and bring in a total revenue of over $67 billion, offering a wide variety of services including unit trusts, life insurance, bonds and savings, annuities, commercial property insurance, and others through a range of distribution channels ranging from direct sales force to the internet. Some of the notable funds that the company offers includes its Aberdeen Asia Pacific Equity, Trust Sustainable Future Absolute Growth, Alliance Trust UK Ethical, and AM Fixed Interest funds.