Aviva pledges USD820 million for UK infrastructure projects

British insurance group Aviva has committed 500 million pounds to invest in UK infrastructure projects in sectors including transport, hospitals and utilities.

The firm said recently that its commitment follows a deal on new European capital requirements for insurers – known as Solvency II – which had proved less burdensome than initially feared, freeing up more money to invest.

"As a direct consequence of the recent agreement on Solvency II, we now have the political and regulatory foundations to invest in the country's infrastructure," said Aviva chief executive Mark Wilson.