CGNU to rebrand as Aviva - papers Feb 27th

CGNU, the UK's largest insurer, on Wednesday said it planned to cut its full-year dividend payment in 2002 and rename itself Aviva, to reflect its international presence as it reported a 41 per cent rise in operating profits to £2bn ($2.8bn), in line with expectations, reports the FT. Life and pension sales increased by 21 per cent to £13.5bn, whilst retail investments were lower at £1.5bn compared with £2.5bn in 2000 partly because of sliding stock markets. Total life achieved operating profit increased by 5 per cent to £1.67bn from £1.56bn in 2000. In the UK CGNU said that sal...