Aviva shares jump after talk of Axa bid

17 August 2010 0:00 am | Updated: 17 August 2010 4:37 pm | By Helen Pow

Aviva’s share price is up 5 per cent to 397p at 4.30pm after reports suggest Axa is interested in a bid for its general insurance business.

Reuters today reported that traders were citing “talk of bid interest” from Axa as the reason for a jump in Aviva’s share price.

Aviva rejected a £5bn bid for its general insurance arm from RSA last week. The insurer’s major shareholders are understood to be pushing it to reconsider the deal, which would give RSA an estimated 22 per cent stake of the general insurance market in the UK.

Both firms declined to comment.

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