24th Jun 2016 08:11
LONDON (Alliance News) - Aviva PLC, the FTSE 100 life insurer, on Friday said the UK's vote to leave the EU will have "no significant operational impact" on the company, citing its "extensive analysis" of the possible implications.
In a statement, Aviva said its operations in the UK and its other subsidiaries in the EU are "well capitalised and continue to trade as normal".
Aviva said it has one of the "strongest and most resilient balance sheets" in the UK insurance sector, with "low sensitivity" to financial market stress.
In March, Aviva reported a Solvency II ratio of 180% for 2015 and a surplus of GBP9.7 billion.
"Aviva will continue to monitor the technical implications of the vote to leave, which will only be resolved after several years of negotiating a new relationship between the UK and the EU," the life insurer said.
Shares in Aviva were down 17% at 369.60 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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