May 19, 2020

Aviva picks former Lloyds CFO Culmer as chair

Former Lloyds Bank finance director George Culmer is to become chairman of Aviva, taking over as the insurer navigates the coronavirus crisis and faces long-term questions about its structure. Mr Culmer spent seven years as finance director at Lloyds between 2012 and 2019, helping to steer the bank through the mis-sold payment protection scandal and oversee restoration of the dividend in 2015. Alan Devlin, analyst at Shore Capital, said Mr Culmer was "Well respected" for the job he did at RSA and Lloyds. His insurance experience will be crucial as Aviva faces the pandemic fallout. Aviva will have to deal with claims on a variety of policies, from commercial to travel insurance, as well as a hit to its investment portfolio because of market turbulence.

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