Aviva chief executive amanda blanc hinted she could pull the insurer out of most of its international areas as she focuses the sprawling team on uk, ireland and canada.

But she in addition advised the insurers dividend could be slashed, in a blow to many of this investors who have reinforced the company because of its commission.

Avivas biggest business is in the uk but it addittionally runs in continental european countries, asia and north america. investors have complained consistently the team has small strategic coherence and also pushed the company to focus on fewer markets.

We are going to concentrate aviva on our best companies within the uk, ireland and canada and try to become uks leading insurer, said ms blanc, who was appointed last thirty days. we intend to consider those organizations where we possess the needed dimensions, capacity and brilliant customer support to come up with exceptional shareholder comes back.

She added: where we can't fulfill our strategic goals, we're going to just take decisive action and we will withdraw capital.

Gordon aitken, rbc capital markets analyst, said it absolutely was a punchy strategic declaration of intent.

Avivas shares jumped 6 per cent responding to the development on thursday morning.

James shuck, analyst at citigroup, said: this course could create significant price...depending on the appetite from buyers within environment. france, italy, poland and singapore should be popular.

He estimates your business could raise 6.8bn by attempting to sell companies in france, poland, italy and asia.

Aviva has cut right back its international functions lately, attempting to sell companies in spain in 2017 and 2018. it discarded several of its asian functions this past year, but kept hold of its singapore procedure considering that the provides it obtained were also reduced.

Ms blanc is avivas third leader in as much many years, having been appointed earlier on this season after the woman forerunner maurice tulloch left for family reasons.

On thursday aviva reported results for the initial 50 % of 2020. operating profits slipped 12 % to 1.2bn as aviva reserve 165m to pay for statements pertaining to covid-19. earnings arrived in 10 percent ahead of experts forecasts.

The solvency ii ratio, a measure of capital available as a percentage regarding the minimum required, slipped from 206 per cent to 194 %.

The company resumed dividend payments after suspending all of them earlier around due to the coronavirus crisis. the business said it could spend an extra interim dividend when it comes to 12 months to december 2019 of 6p per share, but there is no commission reflecting 1st half of 2020.

Nonetheless ms blanc stated there might be more modifications to come for dividend as aviva focused on cutting debt.

We chose to take the chance to review our long run dividend plan, in light of our strategic priorities plus the future model of the group, with the objective of a renewable payout and reduced quantities of debt, she said.

The company will update people on its dividend plans later this season.

Mr shuck of citi said: we assume this indicates a dividend slice, most likely around 30 % within view taking the current [dividend] give down from 10.9 percent to 7.6 percent.