May 28, 2019

Aviva eyes split of UK business as part of shake-up

Aviva is preparing to unveil a big shake-up of its UK business next week, as new chief executive Maurice Tulloch starts to make his mark on the insurance group. Observers said one option was to split the UK business - Aviva's largest operation - into two parts. When Aviva announced the departure last month of UK chief executive Andy Briggs - who had been a rival to Mr Tulloch for the group CEO role - it said there would be "a review of the UK businesses to ensure the appropriate management structure to build on that success for the future". Splitting the UK business would fit in with Mr Tulloch's wish to simplify the group's structure and would enable it to focus more closely on the fundamentals of each division, such as underwriting and pricing. Mr Tulloch is also likely to announce a push to make Aviva more efficient.

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