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Aviva to post £3bn loss for 2012

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Aviva is set to post a loss of £3bn for 2012 as the insurance giant considers cutting its dividend, according to reports.

The loss follows a series of disposals by Aviva as part of a global restructuring exercise.

These include the sale of its US life and annuities business for £1.1bn in December – a deal which The Sunday Times claims has triggered a £3.2bn write-down in the company’s 2012 accounts.

In August last year, Aviva announced plans to cut 800 jobs in its UK operation as part of efforts to reduce total group costs by £400m.

A final decision on whether to reduce the dividend is expected to be made at a board meeting on Wednesday. Aviva will publish its full year results for 2012 on Thursday morning.

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  1. Aviva the company that promised so much and delivered so little. I’ve watched from afar how poorly this company has performed in both it’s service to the client and intermediary channel. When you raise their at times pathetic fund performances against the rest of the market with their broker reps they just shrug their shoulders and appear not to care. Their property fund is a disaster and they must have been chucking money into a black hole when you consider just how bad it’s performed since 2007. They try to buy market share in areas such as Equity Release but can you really trust this company at the moment. I have my doubts.

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