Aviva has appointed Chetan Singh to the role of managing director of annuities and equity release.
Chetan, who is currently Aviva’s chief strategy and M&A officer, previously led the “transformation of Aviva’s portfolio”, delivering eight divestments in the last eight months that will generate “£7.5bn of total cash proceeds”.
In his new role, which will come into effect in May, he will report to Doug Brown, chief executive of Aviva UK and Ireland Life.
Prior to joining Aviva five years ago, Chetan held senior roles with JP Morgan and Citigroup.
Amanda Blanc, chief executive officer at Aviva, said: “Aviva is a market leader in annuities and equity release and we have major ambitions to grow further in these attractive and strategically important markets.
“Chetan’s strong commercial strength and industry knowledge will help Aviva seize the considerable growth opportunities in annuities and equity release.”
She added: “In the bulk purchase annuity market alone, current forecasts estimate £30-50bn of flows per annum over the next decade. That’s a tremendous opportunity for Aviva to sustain the record volumes we have delivered in 2020 – and to go further.”