Aviva to cut personal lines products down to 40 from 400
GI CEO Colm Holmes says the provider is targeting growth in SME and corporate and specialty and insists new strategy will not lead to more redundancies.
Aviva is targeting a 20% cost reduction in its personal lines business, according to Colm Holmes, chief executive officer of general insurance.
“Our personal lines performance over the last 18 months has been less than we would have wanted it to be in terms of margin, not necessarily growth,” Holmes stated.
He added that the provider is looking to simplify the business in this sector and cut the number of products from 400 to 40 by 2022. This is across all of its channels – strategic partners
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