A NEW name - Aviva - is proposed for CGNU, the parent group of Norwich Union Life, York's biggest financial services employer.
The name change plan was disclosed today with the announcement that annual group operating profits worldwide soared 41 per cent to £2,004 million.
Special glory was reserved for York, which presided over UK Life and pension sales of £859 million - or 43 per cent of the total.
Philip Scott, chief executive of Norwich Union Life - which will keep its famous name - said there were no plans to increase the 2,800 people on the payroll at York.
"The employee figures should remain fairly stable, but it does confirm that with the merger of CGU and Norwich Union we were right to have chosen York."
Mr Scott said land was being cleared at Monks Cross for a new 80,000 sq ft Norwich Union Life building to accommodate 500 "overspill" staff at present housed in a 40,000 sq ft two-storey Portakabin. The move is planned for the end of 2003.
Updated: 11:49 Wednesday, February 27, 2002
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