28th May 2019 06:57
LONDON (Alliance News) - Aviva PLC is planning to split its UK operations into two - life and non-life - the Financial Times newspaper reported Tuesday.
New Chief Executive Mark Tulloch is hoping the move will simplify the company, after telling shareholders at the insurer's annual general meeting last week it was "still too complex".
According to the FT, Aviva will lay out the plans next Thursday, June 6, which could involve splitting its largest operation into two businesses, life insurance and non-life insurance.
https://www.ft.com/content/986f1a4e-7e3a-11e9-81d2-f785092ab560?segmentId=080b04f5-af92-ae6f-0513-095d44fb3577
Towards the end of April, Aviva announced a a shake-up of its UK unit's senior management team, which included replacing its UK Insurance chief executive officer.
Andy Briggs stood down from his role as Aviva's UK Insurance CEO, and from the company's board, with Chief Risk Officer Angela Darlington taking up on the role on an interim basis. Briggs is expected to remain with Aviva until October to "support an orderly transition".
At the time, Tulloch said the move was part of his review into the company's UK business.
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