AM Best has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating (ICR) of “aa-” of the core companies of the AVIVA Group (AVIVA) (United Kingdom).

AM Best has also affirmed the ICR of “a” of the non-operating holding company, AVIVA. In addition, AM Best has affirmed the ratings of a number of debt securities issued by AVIVA. The outlook for all ratings remains stable.

AM Best said these ratings are based on AVIVA's leading business position, strong financial performance and strong risk-based capitalisation. The main offsetting factor remains the high degree of “soft elements” forming part of AVIVA's economic capital, which is in line with a number of its peers.

Despite this, AM Best believes that AVIVA's financial flexibility remains strong, with an adequate level of debt cover.

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