Aviva unveils £200m cost cutting programme

City A.M. Reporter
Insurer Aviva unveiled £200m in planned cost cuts and said it was set for "strong profitable growth" this year after sales for the first nine months rose in line with expectations.

Aviva, Britain's second-biggest insurer, will take out £200m in costs and deliver another £200m in efficiency gains by the end of 2012, it said.

"We are on track to deliver strong profitable growth and outstanding capital generation for the full year 2010," the company said in a statement.

Total life and pensions sales for the nine months to 30 September were £25.5bn, up six per cent compared with the same period last year, and broadly in line with a consensus analyst forecast of £25.2bn.