Aviva exits offshore bond market

Administration of its closed book business will pass to Ireland-based Capita Life & Pensions Services as part of a third party supplier agreement on 1 April 2010. A letter has been sent out from the provider of offshore investment solutions to existing customers resident in its core UK market, as well as advisers, notifying them of the handover and with the guidance their policies will not be affected. Administration of the closed book will be managed out of Dublin by Capita, though a small Aviva team will be kept on to oversee operations. Most of the business' 75 employees will t...