Aviva Group Ireland plc is the Irish arm of British insurance firm Aviva plc. Its headquarters are in Dublin. The company also provides investment management and pension services. Hoover's reports that Aviva is the largest general insurer in Ireland, with a market share of more than 20%. The company also has a majority shareholding in Aviva Health Insurance.
History
The company was established in 1908 as Hibernian. In 1925, the Guardian Assurance Company Ltd purchased a majority shareholding in the company and, by 1931, it was offering fire, accident, motor, fidelity guarantee and plate glass insurance. In 1935, Guardian Assurance sold the company to a consortium of Irish firms, including the Bank of Ireland. In 1940, the company started to transact engineering business and, in 1946, added marine insurance in partnership with the Irish National Insurance Company Ltd. In 1964, the Commercial Union Assurance Company Ltd acquired the majority shareholding from the Bank of Ireland and, in May 1966, changed the company's name to the Hibernian Insurance Company Ltd. By 1969, Commercial Union owned 99.9% of shares in the company. In 1979, a consortium of Irish investors acquired the majority shareholding in the company while Commercial Union retained a 30% share. On 4 November 1999, it was acquired by CGU plc which its self later became part of Aviva. The company found itself at the centre of controversy in June 2008 when it announced that it was to transfer much of its operations to Bangalore, India, with the loss of 580 jobs. In 2008 Hibernian announced that they would be rebranding as "Aviva" as part of a global rebranding campaign to have all their subsidiaries operate under the same name. In January 2009 the company was renamed as "Hibernian Aviva", and in December 2009 the company was rebranded as simply Aviva. In November 2008, the Central Bank of Ireland fined the company for various breaches of the Consumer Protection Code. In April 2011, it dismantled its Dublin-based European holding company and carried on the same operations from London. The Central Bank of Ireland fined Aviva in July 2011 for failing to have proper controls and procedures surrounding the safeguarding of client assets.
On 12 February 2009, it was announced that the new Lansdowne Road stadium will be called the Aviva Stadium, after a deal with Aviva reported to be worth €40 million and the deal will last for 10 years.
