New Aviva chief executive Maurice Tulloch has plans to shake up the company and split its largest operation into two parts, reports suggest.
The Financial Times reports the UK business containing the life insurance and non-life insurance divisions could be split as part of Tulloch’s mission to “re-energise” the company.
Aviva merged its two main business operations less than two years ago under former chief executive Mark Wilson.
The next plans for Aviva’s progression will be outlined in an update to investors in the first week of June.
It is believed Tulloch is aiming to simplify Aviva’s structure after the departure of UK chief executive Andy Briggs last month.
Following his appointment as chief executive in March, Aviva chairman Adrian Montague said Tulloch was aware of where the company “needs to improve”.
Tulloch added Aviva needed to “focus on the fundamentals of insurance” and providing customers with “the best possible experience.”