Aviva News

U.K.’s Aviva Reports 6% Increase in Operating Profit for 2014

Aviva plc, in the midst of buying Friends Life Group Ltd. for $8.6 billion, increased its shareholder payout for 2014 by 30 percent as the insurer reported higher profit. The final dividend was lifted to 12.25 pence per share, taking …

Europe’s Insurers to Boost Dividends for Investors Seeking Higher Yields

Europe’s insurers are preparing to boost dividends to the highest of any industry except utilities, making use of expanding surplus capital to offer investors an alternative to record low interest earnings from bonds. Companies including Allianz SE, Europe’s biggest insurer, …

U.K. Regulator Fines Aviva $27 Million for Failing to Manage Conflicts of Interest

Aviva plc was fined 17.6 million pounds ($27.2 million) by the U.K. financial markets regulator for failing to manage conflicts of interest among funds in its fixed-income business. From August 2005 to June 2013, Aviva served funds that paid different …

UK’s Aviva Agrees to Acquire Friends Life for $8.8 Billion in Shares

Aviva plc, Britain’s second-largest insurer by market value, agreed to buy Friends Life Group Ltd. for about 5.6 billion pounds ($8.8 billion) in stock in the U.K. insurance industry’s biggest takeover in 15 years. Aviva, which last month disclosed it was …

Aviva New Business Growth Driven by Europe and Asia Operations

Aviva plc, the U.K.’s second-biggest insurer by market value, reported a 15 percent rise in new business in the first nine months of the year, driven by its European and Asian operations. The value of new business, a measure of …

3i Group’s Montague Replaces McFarlane As Aviva Chairman

Aviva Plc, the U.K.’s second- largest insurer by market value, named Adrian Montague as non- executive chairman, replacing John McFarlane, who is taking up the same job at Barclays Plc. Montague, 66, who joined the board of Aviva in 2013, …

Iowa Insurance Regulator Approves Aviva Acquisition

Iowa’s insurance regulator has approved the acquisition of West Des Moines-based AvivaUSA and subsidiaries by Athene Holding Ltd., a life insurance company owned primarily by private equity fund Apollo Global Management. Iowa Insurance Commissioner Nick Gerhart said in a statement …

Aviva Names ex-AIA Chief Wilson as New CEO

The UK’s Aviva plc announced that Mark Wilson will join the board of the Company on December 1st, 2012 and will become chief executive officer effective January 1, 2013. John McFarlane, chairman of Aviva, who has been acting in an …

Insurer Aviva Nearing Sale of U.S. Business

Aviva, the UK’s second-biggest insurer, is closing in on the sale of its underperforming U.S. business, a key part its drive to strengthen its finances in an uncertain economic climate and revive its share price. The disposal, expected “reasonably soon,” …

Report Finds Less than 10% of Global Insurers Using ‘App’ Strategy

A report by Swiss research company MyPrivateBanking concludes that while the “mobile app revolution” has reached the insurance industry, adoption of the popular technology is “still at a very early stage, showing patchy and inconsistent deployment.” The survey involved a total …