Bloomberg – Aviva Plc took a 132 million pound ($221 million) charge after saying two former employees breached its trading policy since 2006 to the benefit of external hedge funds.
The insurer, which today reported full-year results, said it found evidence last year of “improper allocation of trades” in fixed income by Aviva Investors from 2006 to 2012. Aviva, which has notified regulators about the improper trades, first disclosed them in a letter to clients in December.
