Aviva’s Irish life arm names Dave Swanton as interim CEO

Aviva’s Irish life and pensions arm has named Dave Swanton, a former senior executive with New Ireland, as interim chief executive as the current head of the business, Dave Elliot, is moving back to the parent group in the UK.

Mr Elliot, who was parachuted into the Aviva Life and Pensions Ireland two years ago as the previous incumbent, Tom Browne, retired, has now been lined up to become managing director of the group’s retirement solutions business in the UK.

Mr Swanton had been with Bank of Ireland’s New Ireland unit for four decades to 2017, according to his LinkedIn profile. He was on Aviva Life and Pensions Ireland’s board before being offered the interim chief executive position, subject to regulatory approval.

Mr Swanton said: “I am delighted to take on the CEO role on an interim basis and to work closely with members of the leadership team. I believe we are well prepared to address the changing and challenging market landscape in 2022 and beyond. I look forward to working closely with our people, brokers and customers.”

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Aviva Life and Pensions Ireland swung into an operating profit of €14 million last year from a €4 million loss sustained in 2020. The improvement was driven by reduced expenses, higher recurring income and “improving claims experience”, it said in March.

Insurance giant Aviva’s combined operating profit from its Irish general insurance, and life and pensions businesses doubled last year to €57 million.

The general insurance unit, Aviva Insurance Ireland, led by chief executive Declan O’Rourke, saw its operating profit increase by 34.4 per cent to €43 million last year, amid lower expenses and reduced claims due to Covid-19.