Aviva restructures group into 5 divisions; sells HK business

Insurance group Aviva on Wednesday it was simplifying its business into five operating divisions and selling its stake in its Hong Kong unit to joint-venture partner Hillhouse Capital.

The company added that was in talks with partners on its Vietnam business and joint venture in Indonesia.

The five operating divisions would now be investments, savings & retirement; UK life; general insurance; Europe life; and Asia life, the company said.

Aviva said it 2019 operating profit was expected to be broadly in line with management expectations, including an estimated £300m - £400mn of net management actions and was is committed to its progressive dividend policy.