15th Nov 2013 06:46
LONDON (Alliance News) - FTSE 100 insurer Aviva is seeking an exit from a GBP1 billion portfolio of toxic liabilities which include the bulk of its exposure to historic asbestos-related claims, Sky News reported Thursday.
Aviva has appointed professional services firm KPMG to sound out prospective buyers of the liabilities as part of a process aimed at reducing risks on its giant balance sheet, according to City Editor Mark Kleinman, who cited people close to Aviva.
Insiders said it was not certain that the portfolio, which includes some non-asbestos-related liabilities, would be sold and stressed that it was only one option being considered by Aviva.
Aviva declined to comment.
Aviva shares Thursday closed at 431.11 pence, down 0.2%.
http://news.sky.com/story/1168787/aviva-eyes-sale-of-1bn-asbestos-liabilities
By Samuel Agini; [email protected]; @samuelagini
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