Aviva to launch retirement division to tackle biggest global 'financial challenge'

The insurer and pension provider reviewed its group strategy and businesses, deciding to separate its activities into five divisions, which also include UK life, general insurance, Europe life, and Asia life. The move comes amid a drive to boost the company's competitiveness while reducing costs, with 1,800 jobs expected to be lost over the next three years. The investment, savings and retirement division is designed to respond to "the biggest financial challenge globally", Aviva said, while providing "an exciting opportunity" for the firm. It noted, in particular, supporting savers t...