Separation of life and general insurance business in UK
Last month we reported that Aviva CEO Maurice Tulloch was plotting a shake-up of its UK business. On Thursday, the insurer confirmed that its life and general insurance business in the UK will be managed separately, which will involve around 1,800 role reductions. Aviva currently employs around 30,000 people and said it will look to keep redundancies to a ‘minimum wherever possible'. The job cuts are intended to reduce expenses by £300m per annum by 2022. As part of the reshape, the insurer...
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