Aviva Turnaround ‘Intensifies’

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Full-year profits amounted to £2.2bn in 2013 compared to a £2.9bn loss the previous year.

Chief executive Mark Wilson attributed the performance as benefits from cost-cutting and the sale of underperforming businesses within the group. This has helped Aviva achieve more focus and be better managed.

The insurer reports to have taken a £60m hit during the first two months of 2014 due to the floods that had devastated the UK.