Aviva takes £475mn Ogden hit

Aviva has reported a pre-tax £475mn ($578mn) impact from the
UK government's decision to reduce the Ogden discount rate to
minus 0.75 percent, it announced alongside its annual results
today.
Excluding the impact, which Aviva has accounted as an
exceptional item, the UK composite insurer's operating profit
increased by 12 percent to £3bn - ahead of analyst
expectations of £2.9bn.
The outperformance was driven by an 8 percent increase in life
profits, a 9 percent increase in non