Aviva Boosts Capital With Hybrid Bonds, Reinsurance

Aviva Plc, the U.K.’s biggest insurer, increased its capital surplus 25 percent in the past three months, easing investor concerns about the company’s ability to withstand declines in its investments.

Excess reserves rose to 2.5 billion pounds ($3.64 billion) at March 31 as the company sold bonds that have characteristics of both debt and equity, and reinsured some U.K. life insurance policies, Chief Executive Officer Andrew Moss said today on a conference call with reporters. The surplus, measured by the insurance groups directive, was 2 billion pounds on Dec. 31...

Bloomberg: Aviva Boosts Capital With Hybrid Bonds, Reinsurance