London — Aviva shares soared to five-month highs on Thursday after the British life, motor and home insurer's new CEO, Amanda Blanc, said it would reduce its focus on Asia and Europe in a strategy shift welcomed by analysts.
Aviva's European operations include France, Italy and Poland. It said in 2019 it was selling its stake in its Hong Kong business. Its other Asian operations include Singapore and a joint venture in China. Aviva's performance was helped by strong results in UK annuities. The value of new business in its UK life business rose 60% to £323m, but Europe life and Asia life fell by 21% and 6% respectively, to £188m and £90m.
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