Aviva's chief exec hints at pulling insurer out of international markets

Written by Adam Cadle

06/08/020

Aviva chief executive Amanda Blanc has hinted she could pull the insurer out of most of its international markets as she focuses the group on the UK, Ireland and Canada.

Blanc also said the insurer’s dividend could be cut, in a statement today.

“We will focus Aviva on our strongest businesses in the UK, Ireland and Canada and aim to be the UK’s leading insurer,” Blanc stated.

“We are going to focus on those businesses where we have the necessary size, capability and brilliant customer service to generate superior shareholder returns.”

She added: “Where we cannot meet our strategic objectives, we will take decisive action and we will withdraw capital.”

Aviva reported an operating profit of £1.2bn in the first half of the year, down 11.6% year-on-year. The fall was driven by a decline in underwriting performance in the general insurance business, as COVID-19 related claims increased.

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