World News

British insurer Aviva halts executive bonuses, pay rises

LONDON (Reuters) – British insurer Aviva <AV.L> said on Thursday its executive directors and leadership team would not be considered for any bonus for 2020 until dividends are restarted.

Basic pay rises for executive directors and the leadership team due on April 1 have also been halted until dividends restart, Aviva said in a statement.

Aviva said last week it would not pay a final dividend for 2019, following regulatory pressure on insurers to maintain strong capital positions.

(Reporting by Carolyn Cohn, editing by Sinead Cruise)