27th Jun 2016 06:40
LONDON (Alliance News) - Aviva PLC on Monday said it is continuing to analyse the possible implications of Brexit following the EU referendum last week, but said it has one of the "strongest and most resilient" balance sheets in the UK insurance sector.
The multinational insurance company noted the market volatility following the result, but said the company's capital position is resilient to market stress. Aviva said, as of the close on Friday, the company's solvency II coverage ratio remained close to the top of its working range of 150% to 180%.
In March, Aviva published its interim results and reported a solvency II coverage ratio of 180% and a surplus of GBP9.70 billion. The insurer also said last week that the UK referendum result would have "no significant operational impact on the company."
"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," said Aviva.
By Joshua Warner; [email protected]; @JoshAlliance
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