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Aviva quick to reassure the market about its finances

Insurance giant Aviva has been quick to reassure the stock market that its finances are in order and there is a more than sufficient cash buffer between its current asset and it liabilities. The move came as the group announced increased sales but took a hit on assets on the back of the recent stock market falls. While it is reassuring in some ways to see the group step forward with figures to confirm that all is well on the financial side, this is how the banking crisis started.

In some ways the financial companies are damned it they do and damned if they don't as no comment always fuels the rumour mill and a denial of any problems can concern some and put even more pressure on the group involved.

However, it is interesting that of late we have been covering the insurance companies and the fact that they have been quiet when all around them are falling. Do not forget that US giant AIG fell like a stone when the rumours started to swirl and that was at a relatively early stage of the stock market collapse. The next few weeks will be vital for the insurance industry but the fact that short sellers have been barred from the sector should help share prices to some extent.

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