Subscribe to the BlogThe head of insurance giant Aviva has shrugged off the growth plans of rival insurer Prudential, saying that he will concentrate on Europe rather than Asia.
Aviva chief Andrew Moss, who also unveiled a surprise rise in Aviva's operating profits, called Prudential's takeover plans in Asia "audacious".
In contrast, Aviva is staking its future on growth in Europe, which Mr Moss said would grow faster than Asia.
On Monday, Prudential agreed to buy Asian insurer AIA for $31.5bn (£24bn).
Mr Moss said that Aviva, Britain's second-biggest insurer, planned a renewed focus on the UK and Europe as the "baby boomer" generation moves into retirement across the continent.