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Aviva (AV.)

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seagles
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Re: Aviva (AV.)

#500915

Postby seagles » May 17th, 2022, 10:30 am

Bouleversee wrote:I haven't heard a word from IWeb about this. They hold my Aviva shares in an ISA. Is this something that will happen automatically without any action from me?


My IWeb account shows the reduced share numbers with the original cost. Am sure that thery will do everything automatically (famous last words :lol: )

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Re: Aviva (AV.)

#500916

Postby daveh » May 17th, 2022, 10:30 am

Bouleversee wrote:I haven't heard a word from IWeb about this. They hold my Aviva shares in an ISA. Is this something that will happen automatically without any action from me?


It should happen automatically. HSDL (same parent as Iweb) had reduced the number of shares by the correct factor for the consolidation yesterday. Nothing else showed other than the lower share number. HSDL had a corporate action notice (compulsory event info only) published on 13th April.

II had two lines in the portfolio. One for the original shares showing a total loss and one for the lower number of new shares showing a 100% gain as the original cost was zero. I'll have to go in and edit the original cost at some point if it doesn't get updated.

Money for the B-shares should appear by 31st May ( maybe as early as the 19th).

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Re: Aviva (AV.)

#500929

Postby monabri » May 17th, 2022, 11:16 am

Bouleversee wrote:I haven't heard a word from IWeb about this. They hold my Aviva shares in an ISA. Is this something that will happen automatically without any action from me?


Yes, it's a "do nothing" so look out for the reduced number of shares held (you should see the reduced qty if you log on) and look out for the funds being returned to your ISA.


seagles wrote:My IWeb account shows the reduced share numbers with the original cost. Am sure that thery will do everything automatically (famous last words :lol: )


Yes, I'm showing a 24% reported loss on the price paid ( when I looked yesterday).

As an aside, I look at Morningstar and Simplywallstreet for share quantities ( looking for long term shareholder dilution, trends). I found both of these to be at significant odds to the Aviva reported numbers. I defer to the Aviva reports but I found it strange that 2 apparently independent sites quote similar qtts of share issue but are a lot different to the figures in the reports ( I looked at a couple or three years).

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Re: Aviva (AV.)

#500938

Postby Bouleversee » May 17th, 2022, 11:32 am

Yes, my account shows a reduced no. of shares with a large loss. Clicking on the shares history on the opening page shows that the purchasing history has been wiped out and there is just the word Consolidation. Clicking on corporate actions shows 0 and the research page has N/A everywhere. Apparently, the corporate action history shows details; haven't read that yet, but surely it is an ongoing corporate action and shouldn't show zero at this juncture. I haven't yet checked whether the correct no. of shares have been credited.

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Re: Aviva (AV.)

#501190

Postby daveh » May 18th, 2022, 10:19 am

1st Qtr Trading update:
https://www.investegate.co.uk/aviva-plc ... 00098574L/

Continued growth in Life sales2 and record Q1 General Insurance premiums

• UK&I Life sales of £8.4bn, up 2% (Q121: £8.3bn) with growth in Annuities & Equity Release and Protection & Health partly offset by Wealth.

• Total BPA sales in Q1 were £843m, up 29%, with a healthy pipeline weighted towards the second half of the year.

• UK&I Life value of new business (VNB) £144m, up 31%, and VNB margin of 1.7% (Q121: 1.3%), driven by Annuities & Equity Release VNB of £31m (Q121: £nil).

• General Insurance gross written premiums (GWP) up 5% in Q1 to £2.1bn, another record. UK&I GI GWP up 3% to £1,347m and Canadian GI GWP up 10% to £753m.

• GI combined ratio (COR) of 96.4% (Q121: 90.6%) reflecting £70m cost for the February storms in UK GI and more normal motor claims frequency.



1 Q1 net flows annualised as a percentage of opening assets under management

2 References to sales represent present value of new business premiums (PVNBP) which is an Alternative Performance Measure (APM). Further information can be found in the 'Other information' section of the Full Year 2021 Results announcement.

3 Pro forma for further debt reduction of £500m over time and pension scheme payment, and after the impact of the acquisition of Succession Wealth. Actual Q1 Solvency II cover ratio is 205% (FY21: 244%).

* The financial information for comparative periods in this trading update refer to continuing operations only.


Continued focus on cost efficiency

• Controllable costs down 3% (excluding cost reduction implementation, strategic investment and IFRS 17 costs) to £683m at Q1 (Q121: 705m).

• On track to achieve savings target of £750m gross savings (£400m net of inflation) by 2024 relative to our 2018 baseline.



Capital return process nearing completion

• Shareholder approval received for £3.75bn return of capital via B Share Scheme. Total capital return to shareholders of £4.75bn will therefore be complete by end May 2022.

• 76 for 100 share consolidation now completed with new share count of 2,802m as at 16 May.



Solvency and liquidity remain strong and resilient

• Solvency II shareholder cover ratio of 205% (FY21: 244 %) was 39pp lower driven by £3.75bn capital return, £500m redemption of subordinated debt, 2021 final dividend, partly offset by operating capital generation in the period and the beneficial impact of higher interest rates.

• Solvency II cover ratio of 198% (FY21: 191%), pro forma for further debt reduction of £500m over time and £75m pension scheme payment. The acquisition of Succession Wealth will further reduce this pro forma ratio to 192% (FY21:186%).

• Solvency II Operating Capital Generation (OCG) for our UK Life Heritage business was £175m in 2021, representing c.9% of business unit OCG. We expect Heritage OCG to run-off by c.£10-£15m per annum.

• Centre liquidity (Apr 22) of £5.8bn (Feb 22: £6.6bn). Centre liquidity of £1.5bn pro forma for the £3.75bn capital return, further £500m debt reduction over time and £75m pension scheme payment.

• £500m Tier 2 Notes matured in April, completing half of our targeted further £1bn debt reduction.



Significant progress on ESG rating


• Sustainalytics ESG risk rating improves to 11.3, now ranking Aviva 6th1 out of 296 global insurers (up from 25th) and ahead of all UK Financial Services peers.



Outlook

• We remain confident and on track to meet the cash remittance, own funds generation, and cost reduction targets outlined at our FY 2021 results presentation.

• Our dividend guidance2 of c.£870m for 2022 and c.£915m for 2023 remains unchanged. Following the capital return and share consolidation this would be equivalent to per share amounts of c.31.0p and c.32.5p respectively.

• The acquisition of Succession Wealth, announced in March, remains on track to complete in the second half of 2022.

• Our strong leadership positions, together with the actions we have taken over the past two years to strengthen our financial position, leave us well placed to navigate the prevailing economic environment.


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Re: Aviva (AV.)

#521231

Postby idpickering » August 10th, 2022, 7:22 am

Aviva plc Half Year Report 2022.

Strong first half results demonstrating benefits of diversified business model

• Solvency II operating own funds generation‡ up 46% to £538m (HY213: £369m)

• Operating profit‡,2 up 14% to £829m (HY213: £725m)

• General insurance gross written premiums (GWP) up 6%4 to £4,694m (HY213: £4,366m) with a strong 94.0% COR‡ (HY213: 91.6%)

• UK & Ireland Life sales5 up 4% to £16.8bn (HY21: £16.2bn) with VNB‡ up 13% to £300m (HY21: £265m)

• Solvency II return on equity‡ 10.9% (HY213,6: 7.4%), 12.3% (HY213,6: 8.8% ) excluding Heritage

• Baseline controllable costs‡,7 down 2% to £1,342m (HY213: £1,372m) reflecting continued focus on efficiency

• Cash remittances‡ of £798m (HY213: £1,063m) in line with our expectation and medium term target

• IFRS loss after tax of £633m (HY21: £198m loss), largely reflects adverse market movements, with no impact on capital or cash remittances‡

• Interim dividend per share of 10.3p (HY21: 7.35p), up 40%, in line with our dividend guidance for 2022

Capital position is strong - new share buyback anticipated with full year 2022 results

• Solvency II shareholder cover ratio‡ of 234% (2021: 244%) and centre liquidity‡ (July 22) of £2.7bn (Feb 22: £6.6bn)

• Estimated Solvency II shareholder cover ratio pro forma1 for planned £1bn further debt reduction, pension scheme payment, and the acquisition of Succession Wealth of 213%

• Solvency II debt leverage ratio‡ of 30% (2021: 27%). We expect this to return below 30% as we complete additional deleveraging over time

• Given our strong capital position and prospects, we anticipate commencing a new share buyback programme with our 2022 full year results, subject to market conditions and regulatory approval

• Assuming a new buyback is agreed, its size will be determined by the Board at year end and will take account of the financial position at that time, as well as both the drivers of the capital surplus (including the impact of market movements) and our preference to return surplus capital regularly and sustainably.


https://www.investegate.co.uk/aviva-plc ... 00094764V/

Issued seperately;

Dividend Declaration.

https://www.investegate.co.uk/aviva-plc ... 01054716V/

10.3p ps , ex Div 18 Aug 22, paid 28 Sep 22.

Ian.

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Re: Aviva (AV.)

#521284

Postby Padders72 » August 10th, 2022, 10:33 am

The market really likes these results, AV. up circa 9% on the day last I looked. Nothing stands out as extraordinary and the div increase was telegraphed it seems, what are people getting worked up over?

They are in my top 10 holdings so I'm certainly not trying to talk them down, just curious!

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Re: Aviva (AV.)

#522661

Postby Steveam » August 15th, 2022, 4:24 pm


idpickering
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Re: Aviva (AV.)

#545037

Postby idpickering » November 9th, 2022, 7:20 am

Aviva plc Q3 2022 Trading Update.

Amanda Blanc, Group Chief Executive Officer, said:

"Trading is positive and our performance is consistently strong. We have had a good nine months due to our market leading positions, our customer focus and the clear benefits of Aviva's diversified business across insurance, wealth and retirement.

"Our customers have continued to save for their future and protect what is valuable to them. Flows in our Wealth business were encouraging and general insurance volumes continue to grow, especially in commercial lines. Profitability also remains robust across both life and general insurance.

"Aviva's capital and liquidity position is strong and our high quality asset portfolio has performed well during the recent period of extreme market volatility.

"We remain confident in the outlook for Aviva. We are on track to deliver our financial targets and trading momentum is building. Our dividend guidance remains unchanged and, as previously announced, we anticipate commencing additional returns of capital to shareholders with our 2022 full year results."

Continued strong trading momentum driven by our diversified business model

• UK&I Life value of new business (VNB) £466m, up 46%, and VNB margin of 1.9% (9M21: 1.3%), driven by higher VNB in Annuities & Equity Release of £143m (9M21: £16m).

• Continued good sales2 growth of 3% in Wealth and 4% in Protection & Health were offset by lower Bulk Purchase Annuity (BPA) volumes as we remain selective and disciplined on price. Overall UK&I Life sales2 of £24.9bn were down 1%.

• Strong net flows in Workplace of £4.1bn, up 11%. Overall Wealth net flows were a resilient 6%1 of opening AuM at £7.0bn, but down 4% versus 9M21 due to the challenging environment for investment activity on our Platform business.

• Acquisition of Succession Wealth completed in August. Succession Wealth advisers can now access Aviva's platform and are already benefiting from its competitive offering and outstanding service. As a result, they can also access Aviva's multi-asset funds.

• General Insurance gross written premiums (GWP) up 10% (7% at constant currency) to £7.2bn. UK GWP up 7% to £3.9bn and Canada GWP up 8% at constant currency to £3.0bn.

• GI combined operating ratio (COR) remains strong at 94.3% (9M21: 92.4%) and reflects more normal claims frequency versus the same period last year. We continue to maintain a disciplined response to claims inflation .


https://www.investegate.co.uk/aviva-plc ... 00067521F/

Ian.

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Re: Aviva (AV.)

#545044

Postby idpickering » November 9th, 2022, 7:44 am

Provisional 2023 Financial Calendar.

https://www.investegate.co.uk/aviva-plc ... 05017453F/

Ian.

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Re: Aviva (AV.)

#545843

Postby csearle » November 11th, 2022, 5:11 pm

idpickering wrote:Provisional 2023 Financial Calendar.

https://www.investegate.co.uk/aviva-plc ... 05017453F/

Ian.


I don't understand what the "Ordinary Shares of 32 17/19 pence each dividends" therein means. Is that the nominal share value perhaps?

C.

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Re: Aviva (AV.)

#545848

Postby EthicsGradient » November 11th, 2022, 5:24 pm

csearle wrote:
idpickering wrote:Provisional 2023 Financial Calendar.

https://www.investegate.co.uk/aviva-plc ... 05017453F/

Ian.


I don't understand what the "Ordinary Shares of 32 17/19 pence each dividends" therein means. Is that the nominal share value perhaps?

C.

Yes, it is "the dividends for the Ordinary Shares of 32 17/19 pence each" - that weird fraction probably arrived at after various splits, rights issues etc. It would be clearer if "dividends" didn't appear right after "each".

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Re: Aviva (AV.)

#545855

Postby csearle » November 11th, 2022, 5:35 pm

EthicsGradient wrote:Yes, it is "the dividends for the Ordinary Shares of 32 17/19 pence each" - that weird fraction probably arrived at after various splits, rights issues etc. It would be clearer if "dividends" didn't appear right after "each".
Thank you. C.

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Re: Aviva (AV.)

#553667

Postby monabri » December 9th, 2022, 3:52 pm

https://www.investegate.co.uk/aviva-plc ... 00012063J/

No impact to Solvency II metrics, cash generation, dividend guidance, or anticipated capital returns

IFRS 17 is purely an accounting change and does not affect the underlying economics of our business, our strategy or the way in which we operate.

· Cash remittances, capital generation and approach to capital allocation are unchanged by IFRS 17.

· Solvency II remains the key basis under which we manage our business and is unaffected.

· There is no impact on our dividend guidance of c.£870m (c.31.0p) for 2022 and c.£915m (c.32.5p) for 2023, with low-to-mid single digit DPS growth thereafter.

· Our intention to return further capital to shareholders in 2023 is unchanged.



We remain on track to meet our Group financial targets which will be unchanged under IFRS 17

· >£5.4 billion cash remittances over 2022-24.

· £1.5 billion Solvency II operating own funds generation p.a. by 2024.

· £750 million gross cost reduction over the period 2018-24.


Presentation slides and a recorded video are available here , where further information is provided on the new accounting standard and how it applies to Aviva.

https://www.aviva.com/investors/publication-of-IFRS-17-presentation/

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Re: Aviva (AV.)

#563784

Postby idpickering » January 25th, 2023, 7:17 am

Aviva plc UK Personal Lines briefing and 2022 General Insurance update.

Aviva plc ("Aviva" or the "Group") is today hosting an 'In Focus' investor and analyst briefing on its UK General Insurance ("GI") Personal Lines business. The event, which commences at 10:00am (GMT), will be hosted by Charlotte Jones, Group CFO, and presented by Adam Winslow, CEO UK & Ireland GI, and Owen Morris, MD UK GI Personal Lines.

Today's presentation will focus on Aviva's leading UK GI Personal Lines business, which has strong and profitable growth opportunities in attractive market segments, particularly Retail and High Net Worth. Our customer-centric business is diversified across both products and distribution with deliberate, targeted brand segmentation. With its strong performance track record, it makes a key contribution to Aviva Group, providing cash generation, operating profit, access to customers, and capital diversification. This is underpinned by excellent technical foundations, including in data science and machine learning.


https://www.investegate.co.uk/aviva-plc ... 00047388N/

Ian (No position).

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Re: Aviva (AV.)

#563789

Postby Dod101 » January 25th, 2023, 8:02 am

idpickering wrote:Aviva plc UK Personal Lines briefing and 2022 General Insurance update.

Aviva plc ("Aviva" or the "Group") is today hosting an 'In Focus' investor and analyst briefing on its UK General Insurance ("GI") Personal Lines business. The event, which commences at 10:00am (GMT), will be hosted by Charlotte Jones, Group CFO, and presented by Adam Winslow, CEO UK & Ireland GI, and Owen Morris, MD UK GI Personal Lines.

Today's presentation will focus on Aviva's leading UK GI Personal Lines business, which has strong and profitable growth opportunities in attractive market segments, particularly Retail and High Net Worth. Our customer-centric business is diversified across both products and distribution with deliberate, targeted brand segmentation. With its strong performance track record, it makes a key contribution to Aviva Group, providing cash generation, operating profit, access to customers, and capital diversification. This is underpinned by excellent technical foundations, including in data science and machine learning.


https://www.investegate.co.uk/aviva-plc ... 00047388N/

Ian (No position).


We can expect them to emphasise that they have carried the losses from December in their stride (as they should have) just to put more pressure on Direct Line

Dod

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Re: Aviva (AV.)

#563802

Postby idpickering » January 25th, 2023, 9:34 am

Dod101 wrote:
idpickering wrote:Aviva plc UK Personal Lines briefing and 2022 General Insurance update.

Aviva plc ("Aviva" or the "Group") is today hosting an 'In Focus' investor and analyst briefing on its UK General Insurance ("GI") Personal Lines business. The event, which commences at 10:00am (GMT), will be hosted by Charlotte Jones, Group CFO, and presented by Adam Winslow, CEO UK & Ireland GI, and Owen Morris, MD UK GI Personal Lines.

Today's presentation will focus on Aviva's leading UK GI Personal Lines business, which has strong and profitable growth opportunities in attractive market segments, particularly Retail and High Net Worth. Our customer-centric business is diversified across both products and distribution with deliberate, targeted brand segmentation. With its strong performance track record, it makes a key contribution to Aviva Group, providing cash generation, operating profit, access to customers, and capital diversification. This is underpinned by excellent technical foundations, including in data science and machine learning.


https://www.investegate.co.uk/aviva-plc ... 00047388N/

Ian (No position).



This has been well received on the market today it seems, with the AV. SP being up 2.5% as I type.

ian.

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Re: Aviva (AV.)

#563805

Postby monabri » January 25th, 2023, 9:43 am

In the Evening Standard ( rea' all abawt it')

https://www.standard.co.uk/business/fts ... 55404.html

" Insurance giant Aviva today said support for its customers during and after December's freezing weather will cost it about £50 million..... reassured investors that its weather experience across 2022 has been broadly in line with long-term averages and only marginally above in the fourth quarter

....... core measure of profitability was consistent with guidance given in November and that the outlook for its dividend and capital returns remains unchanged."

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Re: Aviva (AV.)

#563811

Postby monabri » January 25th, 2023, 10:11 am

Ordinary shares.
2,807,919,070

Guidance of c.31p per share ( annual) dividend ( from previous posting in this thread).

0.31 x share qty = £870m annual dividend.

I'm not sure if £50m is a total cost or an over cost?

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Re: Aviva (AV.)

#563904

Postby idpickering » January 25th, 2023, 4:02 pm

Aviva plc UK Personal Lines briefing and 2022 General Insurance update.

Aviva plc ("Aviva" or the "Group") is today hosting an 'In Focus' investor and analyst briefing on its UK General Insurance ("GI") Personal Lines business. The event, which commences at 10:00am (GMT), will be hosted by Charlotte Jones, Group CFO, and presented by Adam Winslow, CEO UK & Ireland GI, and Owen Morris, MD UK GI Personal Lines.

Today's presentation will focus on Aviva's leading UK GI Personal Lines business, which has strong and profitable growth opportunities in attractive market segments, particularly Retail and High Net Worth. Our customer-centric business is diversified across both products and distribution with deliberate, targeted brand segmentation. With its strong performance track record, it makes a key contribution to Aviva Group, providing cash generation, operating profit, access to customers, and capital diversification. This is underpinned by excellent technical foundations, including in data science and machine learning.


https://www.investegate.co.uk/aviva-plc ... 07448313N/

Ian - No position.


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