Aviva to sell stake in Italian life insurance venture for €400m November 23, 2020 Aviva has agreed to sell its entire 80% shareholding in Aviva Vita, an Italian life insurance joint venture, to partner UBI Blanca for €400m. The life insurance provider noted the transaction will increase Aviva’s net asset value by £0.1bn. It said the move would also strengthen Aviva’s Solvency II capital surplus by £0.2bn and increase [...]
Aviva vows to reduce focus on Asia and Europe as profit slumps August 6, 2020 Aviva today vowed to reduce its focus on Asia and Europe, after profit in the first six months of 2020 fell 30 per cent. The figures Profit before tax dropped 30 per cent year on year to £1.08bn in the six months to 30 June down from £1.52bn in the same period last year. Basic [...]
Aviva CEO Maurice Tulloch steps down with immediate effect for ‘family health reasons’ July 6, 2020 Aviva chief executive Maurice Tulloch has stepped down from the role with immediate effect for “family health reasons”, the insurance giant said today. Non-executive director Amanda Blanc will take on the CEO role from today, Aviva said, after joining the board at the start of the year. She was previously CEO, EMEA & Global Banking [...]
Insurance: Hiscox, Aviva, RSA and Direct Line suspend dividends following Bank of England pressure April 8, 2020 Insurance companies Hiscox, RSA, Aviva and Direct Line have this morning announced the suspension of their dividends after regulatory pressure from the Bank of England. Sam Woods, deputy governor of the Bank’s Prudential Regulatory Authority wrote to chief executives of major insurers on 31 March asking them to “pay close attention to the need to [...]
Aviva confirms it will still pay dividend despite fall in cash March 17, 2020 Insurance giant Aviva confirmed today that it is still planning on paying its dividend in May despite its financial position contracting. Speaking at the Morgan Stanley Financial Services Conference, which was held remotely, the firm said that its solvency cover ratio had fallen to 175 per cent, down from 206 per cent on 31 December. [...]
Aviva shares rise on record profit but insurer takes £500,000 coronavirus hit March 5, 2020 Insurance giant Aviva this morning reported a jump in profit but said it had taken a £500,000 hit from coronavirus claims. Shares rose 3.42 per cent as the company announced record profit, but it also warned that the outbreak of coronavirus had exacerbated the “significant uncertainty” at the beginning of the year. So far Aviva has [...]
Aviva Investors buys Docklands hotel site for £106m January 15, 2020 Aviva Investors’ Lime Property Fund has bought a £106m hotel development site near Canary Wharf. The asset management arm of Aviva has acquired the freehold interest in the site next to Westferry DLR station, where developer Rockwell will build a 30-storey Premier Inn Hotel. Read more: London luxury hotel market booms Whitbread, the owner of [...]
Investors underwhelmed by Aviva’s restructuring plans November 20, 2019 Shares in Aviva slipped on Wednesday after the insurer announced plans to restructure its business and sell off its Hong Kong division in a bid to revive investor interest in the group. The insurance company will simplify its business structure into five operating divisions and sell its stake in Hong Kong business, called Blue, to co-investor [...]
High-yielding Aviva rewards investor patience August 7, 2019 | City Talk Aviva is rewarding investors who stayed the course while the insurer streamlined its operations. Having previously gone through a streamlining operation which left Aviva (LSE:AV.) fitter, the focus is now turning to a strategy review to ensure the company maintains its relevance. Perhaps not surprisingly, this has resulted in mixed fortunes as the business transforms. There has been [...]
Harry, Meghan and the case for shared parental leave May 8, 2019 While the parents of the new royal baby might be exempt from a traditional nine to five job, it’s no surprise that their first-born child will still have a massive impact on their ability to fulfil royal duties. A member of the royal family is in a better position than others to spend time with [...]