Ex-Zurich Insurance executive Blanc to replace Aviva’s Tuloch
LONDON (UK) – Former Zurich Insurance executive Amanda Blanc has been named chief executive of Aviva on Monday. Amid signals of a potential strategy overhaul, the shares of the British insurer has gone up.
Blanc will replace Maurice Tulloch, who is stepping down with immediate reasons for family health reasons, said the firm. This is the second shake-up in less than two months after chairman George Culmer took over in May.
“I’m not a business as usual person, and I haven’t come here to do a business as usual job,” said Blanc, who is the first woman to head Aviva.
“We will look at the strategic options.”
The firms shares rose to a three-week high at 4% at 1314 GMT, outperforming a 1.7% rise in the FTSE 100.
Tulloch assumed charge last year amid concerns over the insurer’s poor stock market performance.
KBW analysts said they expected Blanc’s appointment to lead to a strategic review, less than a year after Aviva reorganised into five divisions.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field