U.K. insurer unveils global asset business

Aviva PLC, a London-based insurer, has launched Aviva Investors, a global-asset-management business.

Aviva PLC, a London-based insurer, today launched Aviva Investors, a global-asset-management business.
The business combines Aviva’s investment businesses around the world under one brand, managing more than $469 billion.
Those businesses are based out of Australia, Ireland, North America, France and the United Kingdom.
Aviva Investors will look at active portfolio management in real estate as well as equity and fixed-income investment.
The firm will also have a global-investment-solutions team that will focus on structured products as well as quantitative and index solutions.
A bulked-up asset management business is supposed to help boost Aviva’s profits, according to a company statement.
Aviva recently announced some exposure to failed giants American International Group Inc. and Lehman Brothers Holdings Inc., both of New York.
The British insurer has some $489.2 million in exposure to Lehman, primarily in senior debt, and $267.7 million in exposure to AIG, also primarily in senior debt.