Global Gains Offset Weak UK Insurance ; FINANCIAL SERVICES

Norwich Union parent Aviva yesterday reported falling first quarter sales in its UK division, but said stronger growth in the US and Asia-Pacific were helping offset the tough domestic market. The group posted a five per cent increase in global life and pension sales to pounds 8.17 billion, despite a three per cent drop in UK new business, at pounds 2.77 billion. Aviva cautioned the UK was set to remain "constrained" this year, but stuck by plans for full-year growth of up to 0.5 per cent as it hoped for a pick-up in sales in the second half.....

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