Aviva’s Irish life arm appoints Helen Nolan as chairwoman

Aviva Life & Pensions Ireland has appointed Helen Nolan, the former long-standing group secretary of Bank of Ireland, as its chairwoman.

She succeeded Paul Raleigh, who recently stepped down from the position after six years.

Ms Nolan, best known to Bank of Ireland shareholders as a steady hand during often heated extraordinary and annual general meetings at the bank in the wake of the financial crash, left the lender five years ago. She also previously served as chief internal auditor at Bank of Ireland.

She is also a non-executive director of Dublin-based, but New York-listed fresh fruit group Dole plc, insurance technology company Companjon Insurance and the Institute of Directors Ireland.

“We are delighted to welcome Helen as the new chair of our board as we continue to make progress on our ambitious growth objectives for our business in Ireland,” said Barry Cudmore, chief executive at Aviva Life & Pensions.

UK-based Aviva plc split its Irish business in 2019 into two units: Aviva Life & Pensions Ireland and a general insurance arm, Aviva Insurance Ireland.

Aviva Life and Pensions Ireland, the fourth-largest life and pensions provider in the Republic, saw its operating profit dip to €15 million last year from €16 million in 2022.

Operating profit in Aviva Insurance Ireland, the third-largest personal and commercial insurer in the State, rose by €72 million from €32 million for the previous year as premiums increased 5 per cent to €521 million and its investments pot benefited from a higher interest rate environment.

Aviva is in talks with the Irish Rugby Football Union (IRFU) and the Football Association of Ireland (FAI) about renewing its naming rights sponsorship for the Aviva Stadium in Ballsbridge, Dublin.

Aviva has held the naming rights for the 50,000-capacity Lansdowne Road stadium since its reopening in May 2010 following a €410 million refurbishment of the arena, which included a €191 million grant from the State. That was a 10-year deal that was renewed in 2018 for a five-year period beginning in July 2020. The deal is believed to be valued at about €4 million a year. The current contract is due in the middle of next year.