Insurers rallied on Friday following speculation over bid interest in Aviva's general insurance business.
Reports More Than insurer RSA approached its rival with an estimated £5bn offer for its GI propositions in the UK and other markets saw Aviva shares advance almost 4.3% in early trading. According to Sky News, the Aviva board immediately rejected the offer and no discussions are currently taking place between the companies. But the speculation has also boosted Legal & General, up 3% to 91p, Standard Life, up 2.55% to 209p, and Prudential, up 2.44% to 567p. The biggest rise in the FTSE 100 came from TUI Travel, which advanced 5% to 203p after Goldman Sachs upgraded the stock to buy....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
