British insurers axe billions of pounds of dividends amid COVID concerns

LONDON (Reuters) - A slew of British insurers cancelled billions of pounds of dividends on Wednesday, in moves welcomed by the Bank of England which had cautioned the sector of the risk of heavy costs from the spread of the coronavirus.Aviva , Direct Line , RSA and Lloyds of London [SOLYD.UL] member Hiscox all said they would halt planned payouts in view of the highly uncertain toll the COVID-19 pandemic would likely wreak on their businesses, customers and the global economy."This is a..