Aviva Plc, the U.K.’s second-biggest insurer by market value, will cut directors’ bonuses to zero and freeze pay for 400 top managers after slashing its second-half dividend by 44 percent and posting a loss. The shares plunged.
Hartford Financial Services Group Inc. gained after Chief Executive Officer Liam McGee responded to billionaire John Paulson’s call for a breakup with plans to shut or sell parts of the 201-year-old insurer.
Prudential Plc, the U.K.’s biggest insurer by market value, raised its dividend 16 percent as profit beat estimates on rising income from Asian economies such as Indonesia, Singapore and Malaysia. The shares rose.
Hartford Financial Services Group Inc. Chief Executive Officer Liam McGee, facing investor pressure to break up the insurer, failed to satisfy billionaire shareholder John Paulson with his plan to shrink the company.