Shares in the insurer rose this morning after it announced the cuts as part of its plan to boost returns SIMON DAWSON / REUTERSAviva will cut 1,800 jobs over the next three years and separate its life and general insurance business in the UK in an attempt to boost its returns. The new strategy was laid out today by Maurice Tulloch, who took over as chief executive in April, after pressure from investors for the UK insurer to increase profits and revenues. The job cuts will come out of its 30,000 global workforce; 16,000 of them in the UK. The company said it aimed to reduce expenses by £300 million a year through the job cuts and also by reducing its expenditure on contractors and consultants. Shares in Aviva rose 5.8p, or 1.4 per cent, to 416.4p in morning trading after Mr Tulloch unveiled his plan to the…

Source: The Times June 06, 2019 11:03 UTC