Page last updated at 17:04 GMT, Friday, 24 October 2008 18:04 UK

Aviva cuts 125 Norwich Union jobs

Aviva logo
The move to the single Aviva brand will take two years

Insurance giant Aviva, which owns Norwich Union, is to cut 125 jobs, it has been announced.

The jobs were to go from its Life Insurance division in Norwich. A smaller number of jobs are being cut in York, Sheffield and Stevenage.

Aviva announced in April it would ditch the 200-year-old Norwich Union brand as it seeks a single identity to compete internationally.

More than 60% of the group's business is now generated outside the UK.

The insurer said it needed to increase efficiency in a highly competitive market.

It denied the move was connected to the economic slowdown.

Norwich Union was formed in Norwich in 1797 and was the first company to offer insurance against the risk of fire.

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