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Aviva PLC (AV.L)

AV.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Aviva looks to sell Friends Provident International for up to $750 mln- WSJ, citing sources
Tuesday, 28 Mar 2017 01:29am EDT 

: UK's Aviva looks to sell Friends Provident International for up to $750 million - WSJ, citing sources .Potential buyers for the unit include China's Fosun - WSJ, citing sources.  Full Article

Aviva Ventures invests in diagnostics company Owlstone Medical Ltd
Monday, 27 Mar 2017 05:48am EDT 

Aviva Plc : Aviva ventures, Aviva Plc's venture capital arm, today announces its investment in Owlstone Medical Ltd, a medical diagnostics company .Aviva ventures' investment takes Owlstone Medical's total funding to $23.5 million since its spin out of Owlstone Inc in 2016.  Full Article

Aviva CEO says to pay down debt in 2017, may do buyback
Thursday, 9 Mar 2017 03:26am EST 

Aviva Investors' : CEO Mark Wilson says to pay down high-cost debt later in 2017; leaning towards share buyback but no decision yet. . Says focus is on organic growth but will do tactical 'bolt-on' M&A. . Aviva Investors' CEO Euan Munro says not under same pressure to do big M&A as peers losing assets and with higher costs. . Wilson says inflows strong into fixed income and infrastructure debt. . Wilson says Ogden Rate move 'disjointed', backs government move to review it. . Munro says put in a "robust" defence to FCA of active management; doesn't back hard limit on transaction costs. .Munro declines to confirm research cost plans, but says effort of billing to individual funds "may not make economic sense"..  Full Article

Aviva sees discount rate change impacting 2016 IFRS profit
Tuesday, 28 Feb 2017 09:05am EST 

Aviva Plc - : Lord chancellor's review of Ogden discount rate in UK . Aviva expects to take an exceptional charge to its 2016 IFRS profit after tax of approximately 385 million pounds . Estimated impact on group solvency II capital ratio is approximately 2 percentage points from government rate cut . Aviva supports this review process and recognises minus 0.75 pct rate announced by lord chancellor may be revised .Rate change will not affect Aviva's operating profit and there will be no change to dividend policy.  Full Article

Aviva, Hillhouse Capital and Tencent to develop insurance co in Hong Kong
Friday, 20 Jan 2017 03:21am EST 

Aviva Plc : Aviva, Hillhouse Capital and Tencent Holdings Limited have agreed to develop an insurance company in Hong Kong, which will focus on digital insurance . As part of agreement, Hillhouse and Tencent will acquire shares in Aviva Life Insurance Company Limited . Following completion of transaction, Aviva and Hillhouse will each hold 40 pct and Tencent will hold 20 pct shareholdings in Aviva Hong Kong .Transaction is subject to customary closing conditions, including regulatory approval.  Full Article

Aviva appoints Andy Briggs CEO UK insurance
Thursday, 19 Jan 2017 05:00am EST 

Aviva Plc : Organisational changes . Aviva is bringing its UK Insurance businesses together - life insurance, general insurance and health insurance - under leadership of Andy Briggs . Maurice Tulloch will become CEO international insurance, responsible for Aviva's insurance operations in France, Canada, Ireland, Spain, Italy, Poland, Turkey and India . Both appointments are subject to regulatory approval .Says David Mcmillan, Chairman Aviva global health insurance and CEO Aviva Europe, has chosen to leave Aviva.  Full Article

UK's FCA fines Aviva companies for client money and assets failings
Wednesday, 5 Oct 2016 05:08am EDT 

UK's Financial Conduct Authority (FCA): FCA fines Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited 8.2 mln stg for client money and assets failings . Aviva breached FCA's Client Assets Sourcebook (CASS) rules and requirements between Jan 1, 2013 and Sept 2, 2015 . During period Aviva failed to put in place appropriate controls over third party administrators . Also found deficiencies with Aviva's internal reconciliation process which resulted in under- and over-segregation of client money . During period from Feb 10, 2014 to Feb 9, 2015 under-segregation peaked at 74.4 mln stg Link to full text: (http://bit.ly/2dJeGUP) Further company coverage: [AV.L] (Bengaluru Newsroom: +91 806 749 1136).  Full Article

Aviva bullish on cash generation after H1, shares rise
Thursday, 4 Aug 2016 03:08am EDT 

Aviva Plc : CEO Mark Wilson says expects more cash generation next year, could go outside the top of flagged range. . CEO says bulk annuity demand had fallen ahead of EU referendum vote; firm expects demand to pick up in H2. . Aviva Investors' Euan Munro says UK commercial property prices have not fallen as much as some market adjustments suggested. .Aviva shares up 5.7 percent in early deals after H1 results..  Full Article

Aviva CEO Wilson says 'expect a few' percentage points off solvency ratio on market volatility
Wednesday, 6 Jul 2016 04:46am EDT 

Aviva Plc : Ceo mark wilson says 'expect a few' percentage points to be knocked off solvency ratio due to market volatility post-brexit vote Further company coverage: [AV.L] ((carolyn.cohn@thomsonreuters.com;)).  Full Article

Aviva CEO Wilson says insurer benefits from weaker sterling
Wednesday, 6 Jul 2016 04:00am EDT 

Aviva Plc : Ceo mark wilson says insurer benefits from weaker sterling . Aviva ceo wilson says wants to see what happens in markets before considering giving cash back to shareholders . Will consider "bolt-on" m&a if it strengthens core businesses . Not considering more large-scale acquisitions, expect to increase asset management business as share of group Further company coverage: [AV.L] ((carolyn.cohn@thomsonreuters.com;)).  Full Article

From grudge to nudge: tech firms help insurers shift gear

LONDON, Sept 18 Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway.