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Aviva releases first-quarter sales, management statement


Aviva plc reported that combined life and annuity sales for its U.S. insurance business, Aviva USA, increased 29 percent in the first quarter to $1.6 billion, compared with $1.3 billion in the first quarter of 2011.

The company said it expects sales growth compared with the prior year to moderate considerably in the remainder of the year because first-quarter 2011 sales were particularly low however.

John McFarlane, Aviva plc’s interim executive chairman, said the company has begun a strategic review of its businesses that could include exiting some businesses.

Former CEO Andrew Moss, who resigned last week amid shareholder pressure, had said the company may sell Aviva USA. McFarlane,said the board will be presented with strategic options in June, with an announcement of new strategies expected in July.  

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