LONDON, July 9 UK insurer Aviva said on
Wednesday that it planned to double annual excess cashflow to
800 million pounds ($1.36 billion) by the end of 2016 as it it
laid out the next stage of its turnaround plan.
It would also look to reduce its operating expense ratio to
below 50 percent over the same period, the company said in a
Aviva added that it was sticking to plans to cut its
intercompany loan balance to 2.2 billion by the end of 2015 and
reduce its gross external leverage ratio to below 40 percent of
tangible capital over the medium term.
($1 = 0.5877 British Pounds)
(Reporting by Simon Jessop; editing by Steve Slater)