Aviva to back hi-tech start-ups

THE insurer Aviva is to launch a new vehicle this week to invest in digital start-ups. The £100m fund will invest £20m a year over the next five years in young companies that are looking to transform the financial industry. Aviva is the latest insurer to embrace technological change in the industry. In May, Generali pledged it would invest €1.25bn (£900m) in six venture capital firms as it seeks to transform its own business over the next four years.