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.
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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.