Aviva: FCA closed policies probe to have 'minimal' impact on profits

It said it estimates a Financial Conduct Authority (FCA) investigation into long-standing life insurance customers could apply to about £200m of its value in force, which it said equates to less than 2% of its group embedded value. "Of this £200m, Aviva believes its treatment of customers has been fair and appropriate, and therefore any impact on the group's profits should be minimal, if at all," it said in a statement. Meanwhile, Partnership said it expects annuities to be excluded from the scope of the FCA's enquiries and added "very few" of its policies written before the year 2000...