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Aviva (AV.)
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- Lemon Half
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Re: Aviva (AV.)
Aviva plc statement on Asia strategic review
https://www.londonstockexchange.com/exc ... 11687.html
Aviva plc ("Aviva") notes recent media speculation regarding its Asian businesses. Following a thorough review of options for the Singapore business, including seeking offers for the business, Aviva has concluded that the best value for shareholders will be achieved by retaining the business.
Aviva can also confirm that its joint venture in China will be retained, given the scale of the market, excellent relationship with its partner COFCO and the high growth prospects.
Aviva's Singapore and China business units delivered double digit operating profit growth in 2018 and are earning attractive returns. Both countries are expected to pay dividends to group centre in 2019.
Aviva is continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia, with its respective partners in each country.
https://www.londonstockexchange.com/exc ... 11687.html
Aviva plc ("Aviva") notes recent media speculation regarding its Asian businesses. Following a thorough review of options for the Singapore business, including seeking offers for the business, Aviva has concluded that the best value for shareholders will be achieved by retaining the business.
Aviva can also confirm that its joint venture in China will be retained, given the scale of the market, excellent relationship with its partner COFCO and the high growth prospects.
Aviva's Singapore and China business units delivered double digit operating profit growth in 2018 and are earning attractive returns. Both countries are expected to pay dividends to group centre in 2019.
Aviva is continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia, with its respective partners in each country.
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- Lemon Half
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- Lemon Half
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Re: Aviva (AV.)
I didn't see the original but the only amendment apparent to me is the inclusion of:
*This announcement contains inside information. The person responsible for making this announcement on behalf of the Group is Kirstine Cooper (Group Company Secretary).
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- Lemon Half
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- The full Lemon
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Re: Aviva (AV.)
monabri wrote:Aviva plc statement on Asia strategic review
https://www.londonstockexchange.com/exc ... 11687.html
Aviva plc ("Aviva") notes recent media speculation regarding its Asian businesses. Following a thorough review of options for the Singapore business, including seeking offers for the business, Aviva has concluded that the best value for shareholders will be achieved by retaining the business.
Aviva can also confirm that its joint venture in China will be retained, given the scale of the market, excellent relationship with its partner COFCO and the high growth prospects.
Aviva's Singapore and China business units delivered double digit operating profit growth in 2018 and are earning attractive returns. Both countries are expected to pay dividends to group centre in 2019.
Aviva is continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia, with its respective partners in each country.
It is referring to Hong Kong as a 'country'. Given the sensitivities around the territory at the moment, that was not very sensible and if the Chinese come across this announcement they will not be best pleased. It is of course a Special Administrative Region of China.
Dod
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Re: Aviva (AV.)
Aviva have posted a Business Review today:
https://www.investegate.co.uk/aviva-plc ... 00070220U/
They confirm the retention of the China and Singapore businesses and announce sale of Honk Kong business, talks ongoing wrt Vietnam and Indonesia
https://www.investegate.co.uk/aviva-plc ... 00070220U/
Strategy update
Following a review of our group strategy and our businesses, we have simplified Aviva into five operating divisions: Investments, Savings & Retirement; UK Life; General Insurance; Europe Life; and Asia Life.
They confirm the retention of the China and Singapore businesses and announce sale of Honk Kong business, talks ongoing wrt Vietnam and Indonesia
Asia Life: we are retaining our businesses in Singapore and China which support our strategy of meeting customers' saving and insurance needs. These are profitable businesses, delivering attractive growth and generating positive cash-flow. We have agreed the sale of our stake in our Hong Kong joint venture, Blue, to our partner Hillhouse Capital, and we are in discussions with our partners in relation to our business in Vietnam and joint venture in Indonesia.
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- The full Lemon
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- The full Lemon
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Re: Aviva (AV.)
Aviva announces exit from Indonesia
https://www.investegate.co.uk/aviva-plc ... 00052130F/
Aviva plc ("Aviva") today announces that it has agreed to exit Indonesia by selling its entire shareholding in its joint venture in Indonesia, PT Astra Aviva Life, to Aviva's joint venture partner, PT Astra International Tbk.
https://www.investegate.co.uk/aviva-plc ... 00052130F/
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Re: Aviva (AV.)
Aviva update on solvency position ahead of investor conference
https://www.investegate.co.uk/aviva-plc ... 00043683G/
Today Aviva will participate in the annual Morgan Stanley Financial Services Conference, which for the first time, is being held virtually. Our Chief Financial Officer, Jason Windsor, will discuss our 2019 results, and provide an update on our capital position in light of the impact of Covid-19 and recent volatility in financial markets.
Aviva remains well capitalised, near the top of its working range. Based on the closing market position on 13 March 2020, our Solvency cover ratio is estimated at approximately 175%, after allowing for payment of our proposed final dividend (c.7 percentage points). The estimate does not allow for any increase in insurance claims or changes in experience or assumptions that may arise from Covid-19. We have expanded our hedging and ALM activity on equities, interest rates and credit spreads. As disclosed at our recent full year results, our centre cash position at the end of February was £2.4 billion.
https://www.investegate.co.uk/aviva-plc ... 00043683G/
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- Lemon Quarter
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Re: Aviva (AV.)
1st qtr trading statement:
https://www.investegate.co.uk/aviva-plc ... 00095513N/
No mention of the dividend at all
https://www.investegate.co.uk/aviva-plc ... 00095513N/
"In responding to COVID-19, Aviva moved quickly to support our customers, introducing a range of measures to help, including financial assistance. I am proud of how Aviva's people have adapted and maintained excellent day to day service for our customers when they need us most."
"Aviva had a solid first quarter of trading. General Insurance sales increased 3% and we had a strong performance in Life Insurance where new business increased 28%. Based on analysis as at 30 April, our estimate of the COVID-19 claims impact on general insurance, incorporating notified and projected claims, is £ 160 million net of reinsurance."
"At 31 March, our estimated solvency ratio remains strong at 182% and incorporates COVID-19 related impacts. The economic outlook remains uncertain and will affect our business, however the strength of our capital and liquidity means we are well positioned to manage this crisis and continue to support our customers."
No mention of the dividend at all
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- Lemon Half
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Re: Aviva (AV.)
daveh wrote:1st qtr trading statement:
https://www.investegate.co.uk/aviva-plc ... 00095513N/
No mention of the dividend at all
It's a trading update, you wouldn't expect any mention of a dividend. At the margin, for those for whom dividends are important, this would be positive as any mention (in a trading update) could only be negative.
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- Lemon Half
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Aviva (AV.)
"Insurance companies Aviva and QBE (UK) Limited have been chosen as the focus of an action group that intends to launch a group claim against insurers refusing to pay out to pubs for loss of income during the coronavirus crisis."
https://www.morningadvertiser.co.uk/Art ... b-insurers
Loss of income ? What sort of net margin do the pubs make (many can't make a profit as it is). What is the actual loss? The hospitality business is being supported by government furlough. I wonder if the lawyers are dangling the carrot of expectation of a big pay out ( minus their costs,naturally! ) by recovery of 100% expected income?
The only group going to make any money here are the lawyers. More ambulance chasing.
I'd expect the insurers to tighten their wording further and, if you want pandemic cover, you'd better sit down when you read the quotation!
https://www.morningadvertiser.co.uk/Art ... b-insurers
Loss of income ? What sort of net margin do the pubs make (many can't make a profit as it is). What is the actual loss? The hospitality business is being supported by government furlough. I wonder if the lawyers are dangling the carrot of expectation of a big pay out ( minus their costs,naturally! ) by recovery of 100% expected income?
The only group going to make any money here are the lawyers. More ambulance chasing.
I'd expect the insurers to tighten their wording further and, if you want pandemic cover, you'd better sit down when you read the quotation!
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- 2 Lemon pips
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Re: Aviva (AV.)
I very much doubt if any Insurance Policy covers profits lost as a result of Government Decree. It is the responsibility of the State to cover such losses.
Owen.
Owen.
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- The full Lemon
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Re: Aviva (AV.)
Aviva appoints Amanda Blanc as Chief Executive
https://www.investegate.co.uk/aviva-plc ... 00090981S/
Aviva plc ('Aviva' or the 'Company') announces today the appointment of Amanda Blanc as Chief Executive Officer with immediate effect.
Amanda is currently an Independent Non-Executive Director at Aviva plc. She was appointed to the Aviva Board in January 2020 and chairs the Customer, Conduct and Reputation Board Committee. She was previously CEO, EMEA & Global Banking Partnerships at Zurich Insurance Group. Prior to that she was Group CEO, AXA UK, PPP and Ireland and has served as Chair of the Association of British Insurers and President of the Chartered Insurance Institute.
For family health reasons Maurice Tulloch, the previous Chief Executive, has today stepped down from the role and retired from his position on the Aviva plc Board. Maurice joined Aviva in 1992 and held a number of senior positions in the business during his time with the Company. He joined the Aviva plc Board in 2017 and was appointed as Chief Executive in March 2019.
https://www.investegate.co.uk/aviva-plc ... 00090981S/
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Re: Aviva (AV.)
idpickering wrote:Aviva appoints Amanda Blanc as Chief ExecutiveAviva plc ('Aviva' or the 'Company') announces today the appointment of Amanda Blanc as Chief Executive Officer with immediate effect.
Amanda is currently an Independent Non-Executive Director at Aviva plc. She was appointed to the Aviva Board in January 2020 and chairs the Customer, Conduct and Reputation Board Committee. She was previously CEO, EMEA & Global Banking Partnerships at Zurich Insurance Group. Prior to that she was Group CEO, AXA UK, PPP and Ireland and has served as Chair of the Association of British Insurers and President of the Chartered Insurance Institute.
For family health reasons Maurice Tulloch, the previous Chief Executive, has today stepped down from the role and retired from his position on the Aviva plc Board. Maurice joined Aviva in 1992 and held a number of senior positions in the business during his time with the Company. He joined the Aviva plc Board in 2017 and was appointed as Chief Executive in March 2019.
https://www.investegate.co.uk/aviva-plc ... 00090981S/
I wonder if this should be taken at face value? Tulloch was not exactly an outstanding success and this change seems like a forced one judging by the fact that there seems to have been none of the usual search done for a successor.
Dod
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Re: Aviva (AV.)
Dod101 wrote:idpickering wrote:Aviva appoints Amanda Blanc as Chief ExecutiveAviva plc ('Aviva' or the 'Company') announces today the appointment of Amanda Blanc as Chief Executive Officer with immediate effect.
Amanda is currently an Independent Non-Executive Director at Aviva plc. She was appointed to the Aviva Board in January 2020 and chairs the Customer, Conduct and Reputation Board Committee. She was previously CEO, EMEA & Global Banking Partnerships at Zurich Insurance Group. Prior to that she was Group CEO, AXA UK, PPP and Ireland and has served as Chair of the Association of British Insurers and President of the Chartered Insurance Institute.
For family health reasons Maurice Tulloch, the previous Chief Executive, has today stepped down from the role and retired from his position on the Aviva plc Board. Maurice joined Aviva in 1992 and held a number of senior positions in the business during his time with the Company. He joined the Aviva plc Board in 2017 and was appointed as Chief Executive in March 2019.
https://www.investegate.co.uk/aviva-plc ... 00090981S/
I wonder if this should be taken at face value? Tulloch was not exactly an outstanding success and this change seems like a forced one judging by the fact that there seems to have been none of the usual search done for a successor.
Dod
I took the sudden and immediate departure as being evidence the announcement was absolutely at face value. Very bad news last week, couple of days thinking, speaks to Chair late last week, board meets over weekend and responds. Just my view of course.
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- Lemon Quarter
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Re: Aviva (AV.)
I think it should be taken at face value and sad for Maurice.
It sounds like Amanda is going to do the radical shake up that Maurice could not bring himself to do
https://www.telegraph.co.uk/business/20 ... dden-exit/
Wonder if they will ever sort out the 'golden ticket' problem at the French subsidiary?
It sounds like Amanda is going to do the radical shake up that Maurice could not bring himself to do
https://www.telegraph.co.uk/business/20 ... dden-exit/
Wonder if they will ever sort out the 'golden ticket' problem at the French subsidiary?
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- Lemon Half
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Re: Aviva (AV.)
His wife is not well.
https://www.standard.co.uk/business/ama ... 89551.html
Final sentence from the link above....
"Shore said: “The new CEO is coming from outside the company so again can take a dispassionate decision on the dividend. The current 11% yield would suggest the market does not expect the dividend to be continued at the current level.”
https://www.standard.co.uk/business/ama ... 89551.html
Final sentence from the link above....
"Shore said: “The new CEO is coming from outside the company so again can take a dispassionate decision on the dividend. The current 11% yield would suggest the market does not expect the dividend to be continued at the current level.”
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