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 [...]