Aviva growth strategy could fail warns Gerrard

Analysts at stockbroker Gerrard are warning Aviva shareholders to wait for signs that the company's decision to cut dividends to buy into growth businesses is working before committing to buying a greater stake in the firm. Cutting the dividend this year freed up £330m in cash to support new business, but the cut was at odds with the company's position as a life assurer, traditionally committed to sharing returns with shareholders. The focus on pensions and stakeholder could bring rewards in the longer term, but if the strategy fails it could lead to significant destruction of...