Aviva is contemplating splitting its UK business into two parts: one that will include life insurance and one that would include non-life insurance.
This comes after former CEO Andy Briggs left the company, and the new chief executive, Maurice Tulloch, expressed a wish to simplify and “re-energise” the company following rising costs in recent years.
Mr Tulloch said that Aviva’s “cost to income ratio is higher than it ought to be.”
The potential demerger will reverse the 2017 merger of Aviva’s businesses.
