Aviva boss set to leave

The UK boss of Norwich Union insurer Aviva quit the business today.

Patrick Snowball will leave the group at the end of June, ending 18 years of service at the insurance giant.

The departure came as incoming group chief executive Andrew Moss announced details of a new look management team.

Mr Snowball’s job will be split into two with Mark Hodges continuing in his current role as chief executive of Norwich Union Life and Igal Mayer, currently head of Aviva Canada, taking on general insurance.

Reports at the weekend said Mr Snowball would resign imminently from the insurance giant after a boardroom disagreement with Mr Moss, who is set to take over as chief executive when Richard Harvey reties on July 11.

It emerged today that Mr Snowball would be joining Towergate Partnership as deputy chairman, a role that will extend his relationship with Norwich Union as it is a significant business partner with Towergate.

Mr Snowball earned £1.3m (€1.9m) in pay, bonuses and benefits in 2006, but he will not be entitled to any severance pay from Aviva. He will receive any payments relating to past performance, such as bonuses.

As group executive director, Mr Snowball heads the firm’s UK arm, largely comprising the Norwich Union brand and motoring group RAC, which Aviva bought in May 2005 for £1.1bn (€1.62).