Ailing Aviva look to US sale

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.

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The Telegraph's report saw the stock move up 2% in Monday morning trading.

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In May this year Andrew Moss stepped down as Chief Executive of Aviva after investors baulked at executive salary levels.

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