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8 Jun 11:19am

Investor presses Aviva to cut costs and return £5bn to shareholders

The Guardian
Activist Cevian Capital complains about bad strategic decisions after building 5% stake in insurer Europe’s largest activist fund has built a 5% stake in the London listed insurance company Aviva as its chief executive, Amanda Blanc, became the second female FTSE 100 boss to have her strategy questioned by an activist investor. Cevian Capital, a Swedish investment firm with $16bn under management, said Aviva, Britain’s biggest general insurer, should return £5bn of excess capital next year after it completes the sale of a collection of non-core divisions.
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