Aviva Plc’s Next Test: Bank of England Takes Aim at Reinsurance Deals
The Bank of England proposed raising capital requirements for UK life insurers’ funded reinsurance deals from about 2–4% to 10%, affecting firms like Aviva, Legal & General, and Phoenix. The PRA estimates UK exposure at £40 billion. The consultation runs until July 31, 2026, with changes proposed from July 2027. Aviva reported buying back 1.3 million shares for cancellation on April 29.