
British insurer Aviva on Thursday said it planned to exit 16 non-core business areas and announced senior management changes following a major strategic review of the embattled group. Aviva said "16 segments that are currently producing or will prospectively produce returns below the group's required return ... will be exited." These included its South Korea operation and small Italian partnerships. "We are putting in place a management structure to achieve the required improvements in performance," it said in a statement. Aviva recently launched a strategic review of all its businesses in a bid to strengthen its capital base and share price after the shock resignation of its chief executive. CEO Andrew Moss sensationally quit in May as head of Aviva -- Britain's second biggest insurer after Prudential -- amid spreading shareholder revolts over pay for top managers viewed as underperforming. Aviva's recently-appointed chairman John McFarlane on Thursday said that the search for a new chief executive was ongoing.
GMT 17:56 2018 Wednesday ,17 January
Ericsson to write down 1.4 billion euros in fourth quarterGMT 19:16 2018 Saturday ,13 January
China shuts Marriott website over Tibet error, scolds other firmsGMT 17:31 2018 Thursday ,11 January
UK group bids for Europe's biggest aluminium smelterGMT 17:24 2018 Thursday ,11 January
UK supermarket Sainsbury's lifts outlook after bumper ChristmasGMT 17:52 2018 Tuesday ,09 January
H&M removes 'black boy' ad after racism accusationGMT 19:38 2018 Wednesday ,03 January
Petrobras pay $2.95bn to settle US class action on corruptionGMT 13:49 2018 Wednesday ,03 January
China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval failsGMT 17:47 2017 Sunday ,31 December
BA owner to buy bankrupt Austrian airline Niki
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor