Aviva is planning to announce major changes to its UK business next week, the Financial Times has reported.
Next week marks three months since Maurice Tulloch was named as new group chief executive, with any shake-up expected to be part of plans to "re-energise" the insurance group as was reported following his appointment.
The FT article suggested one option would be to split the UK business into one containing life insurance and the other spanning its general insurance offerings, which would sit in line with Tulloch's belief the group is "too complex".
When Tulloch was named CEO on 4 March, chairman Adrian Montague said: "Maurice knows our strengths, knows where we need to improve and has a deep understanding of insurance and customers' needs. He is exceptionally well-qualified to re-energise Aviva and deliver long-term growth."
While Tulloch added: "There is a clear opportunity to realise Aviva's significant but untapped potential. Aviva is financially strong, we have a well-known brand and excellent businesses. But there is more to do to improve returns for shareholders."
At the time of writing, it was unknown of any effect on Aviva Investors and its £337bn global AUM business.
Aviva is expected to announce the CEO's plans to investors on 6 June.
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