Aviva suffered a loss of £3bn in 2012 due to a £3.3bn writedown from the sale of its US business last year.

George Osborne is considering a new tax raid on the pension contributions of richer voters, after rejecting the idea of a "wealth tax" based on higher council rates for luxury homes and apartments.

Resolution Group has reported new business of £138m for the first nine months of the year, up 45% from £95m for the same period last year, led by an 155% increase in the company's UK operations.

Axa has said it is considering a sell-off of Bluefin Advisory Services, the advice business it owns.

Friends Life has announced the creation of a new in-house asset management business which will launch in the second half of 2012.

The Financial Services Authority (FSA) has fined Peterborough-based Rockingham Independent £35,000 and imposed partial bans on its directors and an adviser for exposing retirees to unsuitable advice.

GLOBAL - America's index of leading stocks closed lower last night, amid a global sell-off sparked by another round of weak economic data and increased fear about the eurozone debt crisis, while the FTSE 100 dropped sharply on opening today.

The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.

Aviva has reported UK operating profits up 3% for the first half of the year, and highlighted auto-enrolment as an area of opportunity.

US - President Barack Obama has announced a deal to end the US debt crisis, which will raise the nation's debt ceiling by at least $2.1trn and cut the federal deficit by as much as $2.5trn over a decade.