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Aviva has decided to postpone its 2019 final dividend payment due to the challenges presented by the coronavirus (Covid-19) outbreak.

The insurer was originally scheduled to make the dividend payout in June 2020.

It has now deferred the payment and expects to reconsider it in Q4 2020.

The decision was taken in response to the call from regulators, including EIOPA and the Prudential Regulation Authority, to insurers to reconsider their dividend payment proposals.

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By retaining the final dividend, the insurer anticipates a 7% rise in group capital ratio to around 182%.

Aviva is currently reviewing material discretionary and project expenditure. It expects to provide an operational update in the second half of May.

The company also said that it is too early to evaluate the pandemic’s impact on claims expenses in life and general insurance businesses.

It is also uncertain about how economic trends will affect its performance.

Meanwhile, Aviva rolled out initiatives to support customers amid the pandemic.

It is now offering customers, who are NHS workers, additional support including free car breakdown cover and enhanced home insurance cover for personal belongings.

In the UK, it has extended cover for businesses to give the same protection when their employees have to work remotely.

Aviva also increased the funding to its long-standing partner, the British Red Cross, by £10m.