Insurer Aviva has reported a two per cent drop in profits in 2011 amid falling revenue from European life insurance and pensions.
It reported operating profit for 2011 of stg£2.5 billion, down from stg£2.55 billion the previous year. The outcome was ahead of analysts' predictions, according to Bloomberg News. On a continuing operations business, its profits rose six per cent.
"Concerns about the macro-economic environment in Europe dominated market sentiment, resulting in exceptional market volatility...
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