British Insurer Aviva to close 16 Non-Core Business Areas
British insurer Aviva announced about coming up with restructuring strategies, which will enable them to come back to growth track. One of the steps to be taken restructuring programme is to sell its US life insurance business.
The company officials said they have already begun having talks with parties, who are interested in buying their business. It has also been announced that they will providing generous discount to the party, which will buy the business.
"We can now confirm that we are in discussions with external parties with respect to our US life and annuities business and these are being actively pursued", said Aviva.
While talking about the reason for selling the company, Aviva officials told that they will be able to earn a generous amount of economic capital surplus. This surplus will help in re-enforcing the company.
As said a number of changes are in the pipeline, some of them will revolved around changes in management also. Aviva, which is considered to be the second biggest insurance company in Britain, has been making a number of efforts to retune to profit.
It is also being said that the company will stop some 16 non-core business areas and will focus on major ones.
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