Ailing Aviva looks to US sale

30th Jul 2012 11:43

Ailing insurance giant, Aviva, looks to be teeing up its US division for a 1bn sterling sale.The Sunday Telegraph has reported the group's Chief Financial Officer, Patrick Regan, has been holed up in the US HQ in Iowa, getting the unit ready for a disposal. It's part of a strategy to flog around a quarter of Aviva's worldwide businesses to turnaround a 56% decline in the share price over the last five years.The Telegraph's report saw the stock move up 2% in Monday morning trading.In May this year Andrew Moss stepped down as Chief Executive of Aviva after investors baulked at executive salary levels.BS