Aviva has announced that it has increased its tender offer for certain series of Euro
and Sterling denominated notes to £1bn, in a bid to reduce its company debt.
The news follows the company’s latest full-year results which saw its operating profit remain stable at £3.16bn, down only £23m from 2019 despite the “negative impacts” of the ongoing pandemic.
Last week the insurer revealed its plans to achieve a debt reduction of £1.7bn in H1 2021 as it follows a cash generation strategy for its core markets.
“We delivered record sales in group protection; record sales of bulk purchase annuities; and record net flows in savings and retirement.”