# Friends First

Friends First is an Insurance based in Dublin, Ireland.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Dublin, Ireland
- **Region:** Europe
- **Address:** Dublin, Ireland
- **Founded:** 1834
- **Assets under management:** Undisclosed
- **Website:** aviva.ie
- **LinkedIn:** https://www.linkedin.com/company/friends-first

## Regulatory record

- **Reports private funds:** No

## About

Friends First is a company founded in 2023 and headquartered in Jacksonville, Florida, operating in a private capacity.

## Sectors

- Real Estate
- Insurance

## People

- Eugene Gibney — Former Head of Investment Division

## Questions

### Who ran investment decisions at Friends First before the Aviva acquisition?

Eugene Gibney led the investment division at Friends First. He oversaw the general account, which was heavily weighted toward direct Irish commercial real estate. Following Aviva's 2018 acquisition of the firm, Gibney departed and the legacy portfolio was integrated into Aviva Ireland's balance sheet under its own investment team.

### What was the structure of the Friends First property portfolio?

Friends First owned a direct portfolio of Irish commercial and mixed-use properties rather than investing through funds. The holdings were concentrated in Dublin, with additional retail parks in commuter locations. Confirmed assets include Blackrock Shopping Centre, Royal Hibernian Way, the Merrion Collection, Elm Park, and the Madrid Portfolio of mixed-use buildings on South William and Clarendon streets.

### How was Friends First related to Achmea BV?

Achmea BV, a Dutch mutual insurance group, owned Friends First before selling it to Aviva plc in 2018. The sale for €130 million allowed Achmea to exit the Irish market while Aviva consolidated its position by merging the business into Aviva Ireland.

### What happened to the Friends First investment book after the Aviva acquisition?

The Friends First investment book was absorbed into Aviva Ireland's general account following the 2018 acquisition. The legacy property assets, including prime Dublin commercial holdings, remain on the combined balance sheet and continue to generate income matched against policyholder liabilities. Aviva Ireland now manages the portfolio as part of its broader asset allocation.

### Does Aviva Ireland still operate under the Friends First brand?

No. Following the 2018 acquisition, Friends First was merged into Aviva Ireland and the brand was retired. The combined entity operates under the Aviva Ireland brand, with the website aviva.ie serving as the public-facing presence for the life insurance, pensions, and investment operations.

### Was Friends First involved in pension fund management or industry associations?

Yes. Friends First was a member of the Irish Association of Pension Funds and participated in pension reform discussions. The firm also maintained a long-term sponsorship relationship with Brokers Ireland (formerly PIBA), reflecting its distribution model through independent insurance brokers for life assurance and pension products.

## Related profiles

- [Friends & Family Capital](https://altss.com/profile/friends-family-capital-management-llc)
- [Friends of the Elderly](https://altss.com/profile/friends-of-the-elderly)

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Last updated: 2026-06-03T20:00:00.000Z

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