AVIVA'S shares tumbled 12.5% after it reported a £3 billion loss and cut its annual dividend from 26 pence to 19 pence to concentrate on repaying debt.
Chief executive Mark Wilson, who joined the business in December after predecessor Andrew Moss quit following a shareholder rebellion over pay and performance, said 2012 had been a year of transition but the company was now better placed for a turnaround.
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