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

Credit: REUTERS/Simon Dawson

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))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.