Aviva to move €10.1bn in assets to Dublin as Brexit looms

Aviva has been given the green light to transfer €10.1bn (£8.8bn) worth of assets to Ireland as the insurance giant ramps up its Brexit contingency planning. The group, one of Britain’s biggest life insurance and pensions companies with 14.5 million policyholders, received approval from the High Court today to transfer €9bn (£7.8 billion). It follows approval earlier this month to transfer €1.1bn (£1bn) to Dublin. The relocation is designed to deal with the consequences of a no-deal hard Brexit, in which UK based financial services firms will lose passporting rights that allow them to function in the EU’s single market, the world’s richest trading bloc.