Aviva to sell Hong Kong operation as it simplifies business into 5 divisions

Pedro Gonçalves
clock • 1 min read

British insurance giant Aviva has revealed a structural shake-up and plans to sell off its Hong Kong business as it aims to slash annual costs by £300m. Aviva said it was dividing its businesses into investments, savings and retirement; UK life; Europe life; Asia life, and general insurance. "I am committed to running Aviva better," said chief executive Maurice Tulloch, who took over the top job in March. "We will be more commercially focused, manage costs rigorously and be more disciplined in how we invest." Tulloch, a company veteran who became chief executive in March after the ...

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