AIB to withdraw life assurance business from Aviva

AIB is to terminate its distribution arrangement with Aviva for the sale of life and pension products, it has emerged today.

Unite, which represents workers at the insurance company, is seeking an urgent meeting with AIB management following the decision.

The trade union is also looking to discuss the move further with Aviva management.

Unite is warning that the move would have a direct impact on up to 300 employees.

AIB sells life and pension products written by Ark Life, a subsidiary of Aviva Life Holdings Ireland Limited, through its branches in Ireland.

Existing AIB/Ark Life customers’ policy terms and conditions will not be impacted by this change.

AIB said that it will continue to offer its customers a full suite of life and pensions products through Aviva until a new distribution arrangement with a new third party provider is in place, details of which will be announced shortly.