Police Mutual Assurance Society Ltd., Lichfield, England, hired Aviva Investors to run the insurance company's £42 million ($69 million) U.K. real estate portfolio, according to a joint news release from Police Mutual and Aviva.
The hire was made after the insurer's “existing manager's withdrawal from the provision of these services,” according to the release. It did not name the previous manager. Jo Cardwell, spokeswoman for PMAS, could not be reached for further information.
The insurer has £1 billion in assets under management.