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Aviva considers annuity back book sell-off

Aviva is considering selling off part of its back book of annuities in a bid to boost its capital reserves, according to The Telegraph.

The newspaper reports the plans are at an early stage and are one of a range of options the insurer is considering as it looks to boost its balance sheet ahead of Solvency II.

It adds that last month, Aviva’s regulatory surplus capital fell to £2.7bn, down from £4bn at the end of June.

Aviva declined to comment on the potential sale, but a spokesman told The Telegraph: “”As with any insurer, we regularly look at various options to optimise our capital position such as reinsurance or securitisation.”

Aviva’s UK life and pension sales increased by 6 per cent in the first nine months of this year to £8bn, up from £7.6bn in the same period last year.


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