* Andrea Moneta, CEO EMEA, to leave at end Feb
* Head of N.America, Igal Mayer, appointed CEO Europe
* Shares down 0.44 percent
(Adds details, share price)
LONDON, Jan 19 (Reuters) - Andrea Moneta, head of Aviva's EMEA division, will leave the company after just 18 months in the job to be replaced by a longterm insider as part of a drive to realise the potential of its European operations.
Britain's second-biggest insurer by market value said Moneta, the former chief financial officer at Italy's UniCredit Group and ECB employee, would leave the company at the end of February.
Igal Mayer has been appointed chief executive for Europe with immediate effect and will be succeeded by Richard Hoskins, the current chief financial officer of North America.
Aviva said the growth of its European business remained a priority, and Mayer's experience would help exploit its potential.
"Aviva's strategy update announced in November 2010 reinforced the importance and potential of the European region," Aviva said in a statement on Wednesday.
"Igal's 20 years of experience at Aviva and his success in delivering excellent results will be invaluable to the business," the group added.
Mayer joined Aviva in Canada in 1989, holding a number of senior roles in the North American unit, and leading the UK General Insurance division, formerly Norwich Union Insurance.
Moneta, an Italian national who joined the company in July 2008 and became its EMEA chief and board member in September 2009, will pursue new challenges in the financial services sector, Aviva added.
Shares in Aviva were down 0.44 percent at 1321 GMT, in line with a retreating London market. (Reporting by Lorraine Turner; Editing by Paul Sandle and Will Waterman)