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Aviva makes redundancies at AIG Life after acquisition

Aviva has made redundancies at AIG Life leading to the exit of dozens of staff including senior managers.

The redundancies come four months after Aviva completed the acquisition of AIG Life from Corebridge Financial for £460m.

In June, the insurance giant unveiled its protection business plan following the deal.

The plan includes integrating the two protection businesses and some changes in the combined senior leadership team.

Phil Willcock, AIG Life chief executive, was the first senior manager to lose his job.

Money Marketing understands that other AIG Life senior managers, including head of intermediary distribution Setul Mehta, have been made redundant.

They will leave their posts at the end of September.

Mehta joined AIG Life from The Openwork Partnership earlier this year, after 18 years with the financial adviser network.

He reported to Nick Austin, managing director of individual protection at AIG Life.

Following the senior manager changes at AIG Life, Nick Austin was appointed to a newly created role as protection commercial director.

Fran Bruce, managing director of protection at Aviva, will lead the combined business as managing director of protection.

Other appointments have also been confirmed for AIG Life leaders in areas such as risk, compliance, IT and HR.

An Aviva spokesperson confirmed the redundancies when Money Marketing contacted the insurer for comment.

“Aviva’s intention is to keep as many people in the business as possible and the majority of roles will TUPE 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.”

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