Aviva is aiming to lower its hybrid debt by at least £700 million over the next three years, Financial Times reports. The move is part of Aviva’s overall strategy to boost its profits and returns for shareholders, adds Reuters.
Aviva reduced its pension deficit from £1.7 billion at the end of 2009 to £0.4 billion as of Nov. 30, 2010. In November 2010, Aviva planned to turn its focus from 30 countries to 12 as it looked to invest in those markets where it had businesses producing higher returns.
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