Aviva plc (AV.L), Monday announced that the company has received an approval from the PRA to revoke Direct Line's Solvency II partial internal model, allowing Direct Line's capital requirements to be calculated using the standard formula from December 31, 2025.
With this change, the company estimates to realize approximately 0.1 billion pounds in capital synergies by the end of 2025, contributing about 2 percentage points to Aviva's full-year Group shareholder solvency ratio.
The company aims to realise over 0.5 billion pounds of total capital synergies by around the end of 2026.
Aviva's stock is currently trading at 688.20 pence, up 0.70 percent on the London Stock Exchange.
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