Jun 4, 2022

Aviva explores using shareholder money to fund infrastructure projects

Aviva, one of the UK's biggest insurance groups, is planning to use shareholder money to fund early-stage infrastructure projects, marking a step-change in its domestic investment efforts and mimicking the approach of rival Legal & General. Chief executive Amanda Blanc, an advocate of insurers using their financial firepower to invest in social infrastructure and climate-friendly projects, shared the plan in an interview with the Financial Times. "We're looking at [whether] we invest our shareholder money as well as our policyholder money in some of these infrastructure investments at the very early stages," she said. A small team at group level would pick the projects, the person said, with some ideas fed in by Aviva's investment arm, Aviva Investors. The sector has raised worries that even with a planned reduction in a key capital buffer, changes to other parts of the rules could constrain insurers and impact the amount that they can invest in long-term assets such as infrastructure.

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