London Report: FTSE at two-month low as Admiral and Aviva shares dive July 9, 2014 BRITAIN’S top share index fell for a third straight session to a two-month low yesterday, with Admiral sinking after its trading update and Aviva down after outlining its turnaround targets. Next dipped two per cent to 6,365p after reaching its ex-dividend date. Car insurer Admiral slumped 3.3 percent after saying revenues fell in the first [...]
Aviva Investors boss Euan Munro plots revival of firm’s fortunes July 1, 2014 Aviva Investors’ new boss yesterday unveiled plans to recreate the success of a £21bn superfund he ran for rival Standard Life, in a bid to revive his new firm’s battered fortunes. Euan Munro, who joined Aviva in January to turn the faltering venture around, said three new funds launched yesterday could more than [...]
Aviva Igloo Fund’s Bermondsey Square up for sale for £34m June 26, 2014 Aviva’s Igloo Fund has appointed property agents Knight Frank to put its mixed-use development in Bermondsey up for sale, with a price tag of £34m. The development at Bermondsey Square is already fully let and includes an 80-bed boutique hotel as well as 35,000 square feet of offices, shops and 76 homes. It also has [...]
Ex-Aviva chief Moss ventures back into City June 2, 2014 FORMER Aviva boss Andrew Moss has re-emerged in his first role since being deposed from the FTSE 100 insurer two years ago. Moss, who was ousted from the company in 2012 after a revolt from shareholders, will join risk consultancy Parker Fitzgerald as chairman of the advisory board, the company confirmed yesterday. “His market knowledge [...]
Aviva shares dip as annuity rules hit UK business May 15, 2014 BRITISH insurer Aviva has become the latest to be hit hard by the government’s changes to the UK pensions market, as new business fell 22 per cent in the first quarter of the year to £89m from £114m the year before. This fall was offset by strong figures from elsewhere in Europe, and Asia, where [...]
Aviva sells US equity manager River Road March 28, 2014 Insurer Aviva’s announced that Aviva Investors, its asset management business, has reached a deal to sell equity manager River Road Asset Management. They've found a buyer in the form of Affiliated Managers Group, a Massachusetts-based investment firm. The move comes as the group looks to simplify its business, making it “more focused”, with an integrated operating [...]
Aviva’s back in the black with profits of £2bn March 6, 2014 INSURER Aviva announced a strong set of annual results yesterday, following a £2.9bn loss in 2012. Profits rebounded to £2.1bn in 2013, allowing the company to issue a final dividend of 9.4p per share. The value of new business to the group rose by 13 per cent. Although the insurer estimates the cost of UK [...]
How Aviva’s leaping into the record books by hedging death rates March 6, 2014 While the news headlines surrounding insurer Aviva this morning focused on its encouraging profits and ongoing turnaround, there was one nugget of information buried deep inside its results which failed to catch the eye – just the biggest pension trade in history. In a brief line on page 126 of the 175-page tome, Aviva says [...]
“Aviva still has issues” says boss as profits rise March 6, 2014 Aviva has reported a six per cent rise in operating profit for 2013, to £2bn. Chief executive Mark Wilson said the businesses’ turnaround is “intensifying”, adding, however, that he wants to “guard against complacency”. Shares have, however, leapt over eight per cent in trading this morning. Source: Google The London-based insurer saw cash flows up [...]
Aviva old guard steps down for top Aussie job January 23, 2014 INSURANCE giant Aviva yesterday announced the resignation of its chief financial officer Pat Regan, just a year after he narrowly missed out on the job leading the company. Regan, who was made CFO in 2010, said he will step down in June to take up the reins as chief executive officer at Australian insurer QBE [...]