Aviva chief hints at pulling insurer out of worldwide markets

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Aviva chief govt Amanda Blanc has hinted that she may pull the insurer out of most of its worldwide markets as she focuses the enterprise on the UK, Eire and Canada.

Aviva’s largest enterprise is within the UK however it additionally operates in continental Europe, Asia and North America.

“We’ll focus Aviva on our strongest companies within the UK, Eire and Canada and purpose to be the UK’s main insurer,” mentioned Ms Blanc, who was appointed final month. “We’re going to concentrate on these companies the place we now have the required measurement, functionality and sensible customer support to generate superior shareholder returns. That is the place we are going to make investments and develop.”

She added: “The place we can’t meet our strategic goals, we are going to take decisive motion and we are going to withdraw capital.”

She was talking as Aviva reported outcomes for the primary half of 2020. The corporate resumed dividend funds after suspending them earlier within the yr due to the coronavirus disaster.

However Ms Blanc mentioned there might be extra modifications to return for the dividend as Aviva focuses on reducing debt.

“We have now determined to take the chance to overview our long run dividend coverage, in gentle of our strategic priorities and the long run form of the group, with the target of a sustainable payout and decrease ranges of debt,” she mentioned.

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