UK regulator fines Aviva unit 14.21 million dollars
The Prudential Regulation Authority fined U K Insurance Ltd 14.21 million dollars for balance sheet errors. The firm is a subsidiary now owned by Aviva Group.
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The banking stability watchdog in the United Kingdom has fined a unit of Aviva plc 10.6 million pounds ($14.21 million) over a miscalculation in its regulatory balance sheet. The Prudential Regulation Authority (PRA), which is part of the Bank of England, announced the penalty on Wednesday, noting that the error occurred in the Solvency II filings for 2023 and 2024.
