Double drop means Aviva’s shares have lost about 8% of their value this week
Two large share price tumbles in a week suggest Aviva investors are not happy with the strategy announced by Maurice Tulloch to overhaul the company’s fortunes.
Today the share price crashed by over 4% as Aviva outlined its plans at its Capital Markets Day.
Measures included an ambitious plan to grow its general insurance business 20% by 2022, as well as cutting 1% off its combined ratio - which averaged out at 96% in the last decade - by 2022, as the company targets mid-market and corporate business.
The share price had already fallen by a similar amount on Monday, as news that Aviva wouldn’t be selling off all of its Asian business was digested.
Today chief executive Maurice Tulloch revealed the company would be split into five divisions.
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