Aviva: reform and new structure

Under the management of its new CEO, Maurice Tulloch, Aviva has launched a restructuring program. The reform advocated involves 1800 job cuts and a reduction in the annual expenses by 300 million GBP. Another objective is to split the British activity into two distinct entities:

• a life insurance entity
• a non life insurance entity

Despite these announcements, some analysts are concerned about the impact of a brutal policy of restricting expenses on customers. Indeed, these reforms do not dispel the clouds hovering over the English group which has committed to alleviate its debt by 1.5 billion GBP.