Insurance company Aviva blamed the government's 2% motor insurance levy for a fall in profits to €54m in Ireland last year.

Insurer Aviva hailed a "steady" performance against a turbulent backdrop in the first half of the year, as it signalled a possible sale of its Asian business.

Aviva Ireland says it is too early to know whether or not it will be affected by the British insurance group's plans to cut 1,800 jobs in its global operations.

Aviva appointed internal candidate Maurice Tulloch as its new chief executive after a lengthy selection process, a choice which analysts say could herald change at Britain’s second-biggest insurer.