Aviva will be putting up a “Chinese Wall” between its new division and its other divisions to prevent the sharing of inside information that could lead to conflicts of interest. None of RBC’s insurance volume will be transferred to Aviva Direct; RBC volume will not be included in Aviva’s business when calculating and assessing risks. This portfolio will be evaluated on its own merits.

Why is Aviva moving in this direction?
The company must be able to increase its market share across the entire insurance sector in Canada. Limiting itself to only 50% of the market was not a good business decision and was at odds with the interests of Aviva’s shareholders.

Aviva’s CEO, Greg Somerville, concluded the discussion with this comment: “Aviva intends to continue supporting the brokerage network, which helped us to build our brand.” They will continue to support brokers in the future. The RCCAQ will be monitoring the situation and will keep you posted.