Ecclesiastical notes Aviva's governance statement that “as one of the biggest companies in our sector, we aim to make our industry work better for everyone. That starts with us building trust with our customers, investors and shareholders by running our business honestly and transparently.” Ecclesiastical trusts that Aviva will follow the principles set out in that statement when considering whether to pursue this course of action.
Ecclesiastical has holdings in Aviva and General Accident's preference shares, but these are not material in size in the context of Aviva's announcement and Ecclesiastical's balance sheet strength.
Ecclesiastical has no plans to cancel its own 8.625% preference shares at par value through a reduction of capital.