U.K.'s Aviva Selling About GBP1B of Tobacco Co. Assets: Reuters
Aviva selling ~GBP1b of bonds and shares it holds in tobacco companies, Reuters reports.
- Aviva decided to sell holdings in Nov., has been divesting since, though not selling tobacco investments made on behalf of third-party clients
- Review began in early 2016
- “We have decided to stop investing in the tobacco sector and will divest over time,” an Aviva spokeswoman told Reuters. “We consider tobacco as ‘harmful when used as intended’, and have been reviewing our investment position for some time now.”
- Other insurers who have pledged to divest tobacco assets include AXA, SCOR, Covea, Achmea, Reuters says