LONDON--Aviva has downsized its relationship with Edelman amid a major restructuring at the UK insurance giant.
The FTSE100 insurer is currently cutting around six percent of its global 31,000 strong workforce. The restructuring follows last year's shareholder pay revolt, the biggest in corporate history, and the arrival of new CEO Mark Wilson.
Aviva previously worked with Edelman in London, where the PR firm provided strategic counsel, CSR and reputation management advice at a group level. An Aviva spokesperson confirmed that this work had ended, as part of the company's attempts to reduce costs.
The company has yet to decide whether it will hire another firm for corporate reputation support, the spokesperson added, although Edelman will continue to handle the group's digital business.
The agency's relationship with Aviva also included Asia, where the insurance company has cut ties with Edelman and moved the regional business to RLM Finsbury following a competitive review. The WPP firm already handles the group's financial communications in London.
Earlier this year, Aviva Asia hired a new CEO, although an Aviva international spokesperson said that this was "coincidental" to the communications shift. "We made the decision to change our support to RLM Finsbury," said the spokesperson. "We do have their support at a corporate level in London, and we believed it would be natural to build on that support."
Edelman continues to work with Aviva in Singapore, although it is understood that this account will review once the contract expires.
Aviva's turnaround has seen the company dispose of numerous international assets, including businesses in America, Russia, Sri Lanka, Malaysia and Spain. The company wants to boost capital levels and cash flow, amid poor results.