Insurance giant Aviva will focus on its strongest businesses, including UK operations, and withdraw capital from other sectors which fail to meet its strategic objectives, chief executive Amanda Blanc has said.
Blanc made the comments in the firm's H1 results, released this morning (6 August). Pre-tax profits at took a 30% hit during the first half of the year standing at just over £1bn as the coronavirus pandemic took hold.Pre-tax profit for the group was £1.07bn in H1 2020 compared to just over £1.5bn in the same period in 2019. This was a fall of 29%. Operating profit for the period was £1.2bn compared to 2019's almost £1.4bn. Aviva's newly appointed CEO Amanda Blanc has been in the job for a month. She replaced former CEO Maurice Tulloch who stepped down for family health reasons. ...
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