Aviva focuses on overhaul plan

Press Association
Aviva
Aviva

Insurer Aviva (LSE: AV) has admitted there will be no quick-fix to its problems after profits declined 10% and it warned of more challenging conditions this year.

The insurer, which has been the focus of shareholder anger following its lacklustre performance, has pinned its hopes on a restructuring drive that will see it eliminate non-core businesses and cut costs.