Aviva plans £400m savings in two years

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Aviva plans £400m savings in two years KCS-content whatsapp INSURANCE company Aviva has announced plans for £400m in savings over the next two years, half of which will come from efficiency gains, and half from cost savings. It has also said that it will close its final salary pension scheme, which has 7,600 members, something that will save £50m a year. Several hundred jobs will also go in its Canadian business, although there will be no job-losses in the UK. Chief executive Andrew Moss said: ‘We will continue our drive to create a simplified, more modern way of doing business, which will both improve our efficiency and reflect customers’ changing preferences.”Sales in the UK were up 26 per cent in the UK, to £2.4bn, taking domestic sales to £12.3bn for the first three quarters of 2010 – a 16 per cent increase on 2009. In the UK sales of long-term savings products were up 22 per cent and, globally, new life and pensions sales were £25.6bn, up from £24bn on the same period last year. The company said that going forward it will concentrate on eight key European markets, plus North America, China, and India, while it will pull out of low return markets, such as Taiwan. “As we look to the next phase of our growth, Aviva will sharpen its geographic focus and deepen its position in its key markets,” Andrew Moss said. Aviva’s global business continues to be uneven, with total sales in North America up just one per cent and life and pensions sales down two per cent, while in Asia Pacific sales were up 24 per cent and life and pensions sales increased by 46 per cent. Sharecenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ whatsapp Tuesday 2 November 2010 9:43 pm Tags: NULLlast_img read more