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Aviva to cut focus on Asia, Europe as profit drops 12%

Credit: REUTERS/Simon Dawson

British life, motor and home insurer Aviva said on Thursday it would reduce its focus on its Asia and Europe businesses as it posted a 12% drop in first-half operating profit to 1.2 billion pounds ($1.58 billion).

LONDON, Aug 6 (Reuters) - British life, motor and home insurer Aviva AV.L said on Thursday it would reduce its focus on its Asia and Europe businesses as it posted a 12% drop in first-half operating profit to 1.2 billion pounds ($1.58 billion).

"Our focus will be on building and extending our leadership in the UK, Ireland and Canada," new Chief Executive Amanda Blanc said in a statement, adding that for Europe and Asia: "where we cannot meet our strategic objectives, we will be decisive and we will withdraw capital.

($1 = 0.7590 pounds)

(Reporting by Carolyn Cohn Editing by Rachel Armstrong)

((carolyn.cohn@thomsonreuters.com; 44 207 542 6320; Reuters Messaging: carolyn.cohn.thomsonreuters.com@reuters.net))

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