Aviva News

UK’s Aviva to Target $3.9B in Renewable Energy Investments

Aviva plc will target 2.5 billion pounds ($3.9 billion) of investments in renewables and energy efficiency over five years to cut exposure to climate risks. The company, which manages about 250 billion pounds of assets, will embed carbon risk into its …

International Underwriting Association Elects New Market Committee Leaders

The London-based International Underwriting Association’s new Delegated Authority Underwriting Group has held its first meeting and elected Paul Rich of Inter Hannover as its chairman. Matt Gordon of Aviva has been appointed deputy chairman. The group was established in response …

U.K.’s Aviva Turnaround Ahead of Schedule; 1st Quarter New Business Up 14%

Aviva plc said the turnaround of the U.K. insurer is “ahead of schedule,” as the value of its new business rose 14 percent in the first quarter. The company, which completed its $8.6 billion takeover of Friends Life Group Ltd. …

Aviva CEO & CFO Reduce Long-Term Bonuses After Voting Agency Concern

Aviva plc’s Chief Executive Officer Mark Wilson and the chief financial officer lowered their long-term bonuses after Institutional Shareholder Services Inc. was said to have raised concerns over 2015 compensation. Wilson’s long-term incentive plan (LTIP ) reverted back to 2014 …

AXA: Tighter Capital Rules on Too-Big-to-Fail Insurers May Threaten Recovery

AXA SA, France’s biggest insurer, said plans to impose tighter capital rules on too-big-to-fail insurers will pose a new hurdle to European growth and do little to bolster financial stability. Insurance companies don’t present the same risk to the global economy …

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 …