Aviva UK profits rise as life and pension sales climb 10%

New sales of life and pensions products increased 10% to £11.3bn last year. Aviva saw gains in sales of workplace savings and protection products, and said it now has a 25% market share in individual annuities. UK life insurance operating profits increased 8% to £920m. Aviva Investors, which saw operating profits worldwide fall 9% to £91m, confirmed plans, first announced in January, that it intends to scale back distribution to retail investors, although it will continue to offer investment products in the UK. The plans will lead to a number of job cuts, it said, mostly in London....