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Aviva share price surges 7.5% on management statement

16 May 2013

Aviva's share price surged this morning after it released an interim management statement (IMS) which analysts said showed the first signs of delivery from the new management at the struggling UK insurer.

The shares strengthened by 7.5 percent to 347.3p by 12:37pm on the London Stock Exchange.

The highlights of the IMS included a stronger capital position, reduced leverage and evidence of progress towards a reduced expense ratio.

Aviva's economic capital surplus ratio has risen from less than 140 percent...

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