Aviva picks former Lloyds CFO as chairman succeeding Montague

UK insurer Aviva has appointed former Lloyds Bank finance director George Culmer as non-executive chairman. He will succeed Sir Adrian Montague who will retire from the board at the end of May.

Culmer has extensive experience in the insurance and broader financial services sector. He is currently Aviva’s senior independent non-executive director, a role he assumed in January 2020. Culmer joined Aviva as a non-executive director in September 2019. He is also a non-executive director of Rolls Royce Holdings.

Culmer was previously chief financial officer of Lloyds Banking Group, and chief financial officer of RSA Insurance Group plc. He has also had senior roles at Zurich Financial Services and Prudential.

Aviva said the appointment of Culmer follows a thorough external and internal selection process led by the Nomination and Governance Committee of the Board. The appointment has been approved by the PRA and FCA.

The board has initiated a process to appoint a senior independent non-executive director to succeed George Culmer.

Culmer said: “I am honoured to be appointed Aviva’s Chairman. I would like to thank Adrian for his service to Aviva over the last seven years and his leadership during a period of considerable change. Aviva’s purpose for more than 320 years has been to support its customers and communities when it really matters and throughout their lives. This has never been more important than it is today during these current challenging times. I will work closely with Maurice and the management team to ensure Aviva continues to be there to support and deliver for all our customers, our colleagues and our shareholders.”

Montague commented: “After five years as Chairman, and with a refreshed board in place, it is the right time for me to step down. George has deep experience of insurance and financial services and is an outstanding choice to succeed me. Aviva has a strong franchise, a purpose that has never been more relevant and great opportunities for the future. It has been a privilege to serve as Chairman.”