Aviva Fined $10.5 Million by U.K. FCA Over Outsourcing

Corrected
  • Aviva failed to ensure oversight of third-party providers
  • Penalty is FCA’s second action in two years for life insurer

Aviva Plc was fined 8.2 million pounds ($10.5 million) by the U.K. markets regulator for failures related to its use of outsourcing, the second penalty for the insurer from the watchdog in two years.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.