Aviva could cull international businesses

Aviva could close or sell-off up to 15 businesses as part of a strategic review, according to reports.

Aviva could cull international businesses

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Executive chairman and acting chief executive John McFarlane will present conclusions from the month-long review on Thursday, understood to include a measure for slim lining management costs.

The review is being overseen by finance chief Patrick Regan. It comes after the resignation of chief executive Andrew Moss in May following a shareholder rebellion over pay packages.

It is unclear which divisions have been targeted, though there is speculation that Aviva’s US insurance arm could be one of the casualties of the review.

In january this year, a London Stock Exchange announcement revealed Aviva plans to sell its Czech Life, Hungary Life and Romania Life & Pensions businesses to US insurance giant Metlife. 

As at 9:47 today, shares in Aviva were trading at 281.66p, having traded around the 445p mark one year ago.

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