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Aviva denies any plans for UK business split

Aviva has confirmed there are no plans to split its UK business in two parts despite talks last month of a shake-up under new chief executive Maurice Tulloch.

The Financial Times reported in May that the life insurance and non-life insurance parts of the UK operation could be split in a bid to re-energise the company.

The two were merged less than two years ago under former chief executive Mark Wilson.

No potential split was addressed in an update to investors on 6 June, in which Aviva said 1,800 role reductions are planned for the business in the next three years.

This represents around 6 per cent of Aviva’s global workforce of 30,000 and is part of Tulloch’s strategy for a “simpler, more competitive, more commercial” Aviva.

Speaking to Money Marketing today, an Aviva spokeswoman says: “There are no changes to our business other than those already formally announced on 6 June.

“We have no plans to break up the UK business or to sell our UK general insurance or life insurance businesses.”

Moving forwards, Aviva’s life and general insurance businesses in the UK will be managed separately.

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  1. […] plans to follow the lead of L & G and LV and sell off their GI business. However, an article in Money Marketing confirms “Moving forwards, Aviva’s life and general insurance businesses in the UK will be […]

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