Aviva expects no operational impact from Brexit

The life insurer emphasised that its operations in the UK and its other subsidiaries in the European Union were well-capitalised and continued to trade as normal.

Surplus capital stood at £9.7bn at the end of 2015 and its solvency ratio at 180%, the company said in a statement.

“Aviva has one of the strongest and most resilient balance sheets in the UK insurance sector with low sensitivity to market stress and over the last four years Aviva has tripled its economic capital surplus.”

“Aviva will continue to monitor the technical implications of the vote to leave, which will only be resolved after several years of negotiating a new relationship between the UK and the EU.”

As of 09:51 BST shares in Aviva were 16.58% lower to 370.8p, but well-off its intra-day low of 290p.