UK's PRA fines Aviva unit $14 mln over solvency miscalculation

LONDON, March ​11 (Reuters) - ⁠Britain's banking ​stability watchdog fined U ​K ‌Insurance Ltd, ⁠now part of ⁠Aviva, 10.6 million ​pounds ($14.21 million) over a miscalculation ​in ‌its Solvency II balance sheet for 2023 ​and 2024.

The Prudential ‌Regulation Authority (PRA), part of the ‌Bank of England, said on Wednesday that ​U K Insurance ‌is a subsidiary and principal underwriter of ⁠Direct ⁠Line ‌Group (DLG), which is now part ​of ​Aviva. ($1 = ‌0.7459 pounds) (Reporting by Sarah Young; Writing by Catarina Demony)

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