Aviva's rising share price sparks bid rumours

According to the Independent, Zurich and Allianz were among those named as interested parties. However, equity analyst at Panmure Gordon, Barrie Cornes, said the likelihood of an approach from either insurer was extremely low. He added that there was little chance of corporate activity among the insurers at the moment given the number of issues currently involving the sector, including the controversial proposed Solvency II capital rules. Instead, the company's advance at that time of 16.9p to 420p was put down to rising optimism over the outcome of the emergency summit in Brussels...