Britons looking to long-term savings, insurer reports

Britons are once again coming around to the idea of bolstering their savings accounts for the long-term future, it has been reported.

Coming as it reports its latest figures, Aviva has reported that it is seeing something of a "savings revival", with UK adults happier to put money away for the future than spending it in the present.

According to the company’s own figures, it saw a 143 per cent increase in savings over the first three months of the year, with Aviva UK chief executive Mark Hodges suggesting that this trend is likely to continue for some time yet.

"We're optimistic," he said of the future of savings.

"We have strength in our model. Savings are strong, annuities are strong. This is a pretty good set of results."

These comments come soon after the chief executive of the UK Insolvency Helpline, Richard Sorsky, warned that high levels of debt and rising consumer prices are limiting Britons' abilities to save money for the future.

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2010-05-12 15:40:19 © Moneyextra.com