Mark Wilson, the Aviva chief executive, said the insurer was in a position to fund future growth, pay down debt and hand back capital to shareholders PAAviva may use its growing cash reserves to make more bolt-on acquisitions after completing the purchase of its rival Friends Life a year early. The insurer could also improve its asset management business Aviva Investors by taking on star fund managers from Standard Life. Mark Wilson, Aviva’s chief executive, said that the business was focusing on organic growth but noted that it had changed its entire leadership team, including hiring Euan Munro from Standard Life in 2013 to head a revamp. Standard Life’s head of equities, David Cumming, has already indicated he does not want to be part of its merger with Aberdeen Asset Management. Shares in Aviva jumped after it promised to return more cash to investors this year, on top of a dividend…

Source: The Times March 09, 2017 16:52 UTC