Brexit: Aviva to move £9bn worth of assets to Ireland

Aviva, the UK's second largest insurer, has announced it will move around £9bn worth of assets to Ireland in preparation for a no deal Brexit, The Independent has reported. The move, which will be timed to coincide with the Brexit deadline on 29 March, is designed to protect oversees policyholders from the removal of EU passporting rights, and to allow Aviva to service policies through oversees branches and pay claims in the EU in the event of a hard Brexit. "The evidence of [the transferor] is that the uncertainty over the Brexit negotiations means that if it delayed further and did ...