UK insurers axe more than 1 billion sterling in dividends amid coronavirus concerns

LONDON (Reuters) - British insurers cancelled more than 1 billion pounds of dividends on Wednesday, in moves welcomed by the Bank of England which had cautioned the sector about the risk of heavy costs from the spread of the coronavirus.Aviva , Direct Line , RSA and Lloyds of London member Hiscox all said they would halt planned payouts due to the uncertainty over the pandemic's impact on their businesses, customers and the global economy.The cancellations represent another crushing blow to..