Aviva's new chairman reveals insurer will leave 16 segments
Aviva's new chairman John McFarlane has announced the insurer will leave 16 underperforming business segments in a bid to focus on higher returns.
He said Aviva will exit the non-core segments that are set to produce returns below the group's required capital.
These include South Korea, UK large-scale bulk purchase annuities and small Italian partnerships.
Mr McFarlane explained Aviva is implementing a managment structure to help achieve the required improvments in performance.
And he also voiced shareholder concerns that the business had expanded its international scope too far.
In his statement Mr McFarlane explained Aviva would instead
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