Aviva USA, based in Des Moines, Iowa, is the top seller of equity-indexed annuities in the U.S. Its parent is Aviva PLC, one of the largest insurance companies in the U.K. The U.S. business was once known as CGU Life, and Iowa-based life insurer AmerUs Group Co. was added in a $2.9 billion acquisition in 2006 in a plan to gain greater access to the U.S. savings market.
Aviva USA, along with other companies in the insurance industry, is opposing a Securities and Exchange Commission proposal to put equity-indexed annuities under the purview of securities regulators. In 2008, two subsidiaries of the company settled a lawsuit brought by Minnesota's attorney general, who alleged they sold senior citizens long-term deferred annuities that weren't suitable for their financial needs.
Management has set its sights on building an innovative culture. It aims to double revenues by 2010 by extending existing products and creating new ones. In an effort to diversify, the company is rolling out several initiatives, including "Wellness for Life," a twist on life insurance that gives customers credit for getting checkups and maintaining a healthy weight. The company broke ground on a new headquarters in the suburbs of West Des Moines in 2008.
The company offers a range of competitive and flexible benefits intended to meet the needs of a diverse pool of candidates and employees. The U.K. parent's Leadership Academy has relationships with such top business schools as Columbia, Wharton, London Business School and INSEAD.