History of Aviva Spain
Plus Ultra and Commercial Union merged in 2000 as a result of the merger between Norwich Union and Commercial Union in the UK. However, the story of Aviva in Spain dates back to 1887, when Plus Ultra was created. After over a century operating in Spain, Norwich Union acquired it in 1990. Commercial Union also was present in Spain since 1881.
In 2002, CGNU sold Plus Ultra's GI business and kept the life business, which started operating under the Aviva brand. The company was then rebranded as Aviva and now distributes life and pension products through an agents and brokers' network.
The bancassurance network was created in 2000, following a deal signed with Bancaja, under which Aviva acquired 50% of Bancaja's insurance company, Aseval. Three more deals were signed in 2001 with Unicaja, Caixa Galicia and Caja España. In 2002 a new bancassurance agreement was reached with Caja Granada. Cajamurcia has also signed a bancassurance deal with Aviva in June 2007.
Aviva Grupo Corporativo was created in 2002 as a management and coordination unit for the Aviva group in Spain. The structure of Aviva Spain was completely defined in 2003 with the creation of Aviva Gestión de Inversiones AIE to manage the investments of most of Aviva Spain's business units.
Aviva Spain's centre of excellence, Aviva Servicios Compartidos was created in 2009 and provides IT, HR and other support services to our business units.
Aviva, among the top-ten
Aviva Spain ranks very high in the Spanish market, which is undoubtedly in line with the leading positions of the Group in the UK and Europe. Aviva is the largest insurer in the UK and main life and pensions provider in Europe. It ranks among the top five insurers in Spain.
In 2002, after the signing of their fifth bancassurance deal, Aviva Spain ranked fourth in the life and pensions market and second in bancassurance. It reached the first position in gross premiums sales in 2003 and has since remained in the top five.
