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British insurer Aviva overhauls UK biz, plans to cut 1,800 jobs globally

Aviva said it would make cost cuts of 300 million pounds ($380.22 million) over three years, in a statement ahead of its first investor day under new Chief Executive Maurice Tulloch

Carolyn Cohn | Reuters  |  London 

British insurer Aviva will change the structure of its UK business and cut costs across the firm, with the loss of 1,800 jobs, it said on Thursday. Aviva said it would make cost cuts of 300 million pounds ($380.22 million) over three years, in a statement ahead of its first investor day under new Chief Executive Maurice Tulloch. The cost base in 2018 was four billion pounds, an Aviva spokeswoman said. Following the departure of Andy Briggs, head of the life and general insurer's UK business and a contender for the top job, Aviva said it would review its UK life and general ...

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First Published: Fri, June 07 2019. 02:28 IST
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