Market moves: The shareholder spring

Without a doubt the biggest management change last month, indeed of the year so far, was that of former Aviva group CEO Andrew Moss who fell on his sword following a shareholder revolt over executive pay. There is no word as to what he will be doing next (he’s just got married – he’ll have his mind on other things, we hope) but there has been plenty of conjecture as to who will replace him. But it wasn’t all about Aviva. Another former chief executive at one of the big insurers made a formal reappearance and there was a host of senior board changes in both the broking and insurer worlds including one enforced by the regulator. Brokers have been busy making appointments across the country to break into new markets or replacing those staff that had moved on to pastures new. There was even news that a new broker, managed by individuals that have fallen out of the consolidator model, had started trading. And among a host of other business development roles and underwriting positions being filled, RSA reorganised its global speciality business. Read on and be informed.

Former Aviva group CEO Andrew Moss was easily the highest profile casualty of the so-called ‘shareholder spring’. Although there had been whispers that Mr Moss was on borrowed time ahead of the arrival of chairman-designate John McFarlane, it wasn’t until the insurer’s AGM that his tenure at Aviva was brought to an abrupt end. Shareholders refused to endorse the remuneration committee’s executive pay proposals and a sacrifice had to be offered up to the mob.

But a chief executive falling on his