Aviva said it expects to pay out less money in Covid-19-related claims this year than previously thought (PA)Hopes that Aviva might use the cash from two major disposals in recent months to prop up its dividend were dashed on Thursday as the business said it would slash the payout by nearly a third. The insurance giant said it expects to pay out around 21p for the full year, as it scales back its operations. Aviva sold one of its Italian arms this week for around £355 million, and its Singapore business in September for £1.6 billion. “This could come at the expense of the operations in Continental Europe and Asia, given the desire to simplify the portfolio. Ms Blanc said: “Our trading performance is robust and our financial position is strong with a capital surplus of £11.8 billion.

Source: Irish Independent November 26, 2020 10:30 UTC