If you find a share certificate in an attic branded Norwich Union or General Accident, do not throw it away. These companies no longer exist on the stock market, but they are the ancestors of one of the UK’s largest insurers: Aviva.
The Family Tree of Confusion Aviva is the result of a massive consolidation in the UK insurance market.
- 1998: Commercial Union and General Accident merge to form CGU plc.
- 2000: CGU merges with Norwich Union to form CGNU plc.
- 2002: CGNU rebrands as Aviva plc.
Are My Old Certificates Valid?
- Strictly speaking: No. You cannot sell a “General Accident” certificate today.
- Legally speaking: Yes. It is proof of title. You must send it to the registrar to be exchanged for valid Aviva shares.
The “Preference Share” Trap Unlike the main company, some specific “Preference Shares” (which pay a fixed income) from General Accident were not converted into ordinary Aviva shares in the same way. They may still exist as a separate class of capital. This confuses many executors who try to value them using the main Aviva share price—which is wrong.
Who is the Registrar? Aviva’s register is managed by Computershare.
- Note: Because of the millions of policyholders involved in the original mergers, the Aviva register is huge. Ensure you have the full name of the original holder and, if possible, the old address printed on the “Norwich Union” paperwork to pass security.