Aviva Share Discussion Threads

[edmundshaw] 09/3/2017 09:04

Good to see Liz Truss not spoiling the party.

[uppompeii] 09/3/2017 09:00

Let it go Alphorn!

Sold my buy from yesterday, it felt good - it's purged some of the stain of Moss. Still holding my £1.80's from nearly ten years ago though!

Great results, Wilson on R4 just now very bullish on the UK and the 45% that comes from abroad. Acknowledged hiccups with political uncertainty but was also clear that Ogden wouldn't be an impact over the longer term and seemed to think that Govt would see sense.

[chinese investor] 09/3/2017 08:52

Great Results !

[alphorn] 09/3/2017 08:51

....pleased that I closed out my naked calls on Tuesday.

The results look fine........despite the poor judgement of the red ticker'. ;)

[lord gnome] 09/3/2017 08:44

Ahh, so there is a chance of a special dividend then. Thanks for that little gem, speedsgh.

[speedsgh] 09/3/2017 08:42

More on the mooted return of capital...

from Part 1 of Final Results:

In view of our strong Solvency II ratio, there is now capacity to deploy surplus capital. In addition to underpinning a progressive dividend, we have four priorities for capital deployment:

1. Organic growth, including capital required to support new distribution partnerships;
2. Bolt-on acquisitions that strengthen our core markets;
3. Returning capital to shareholders, via a share re-purchase program or special dividend; and
4. Paying down hybrid debt obligations.

These priorities are not mutually exclusive and we expect to pursue all of these options. Specifically, we plan to take steps to return additional capital to shareholders and reduce hybrid debt during 2017. Liquidity at the centre is £1.8 billion at the end of February 2017 (February 2016: £1.3 billion). We generally intend to maintain centre liquidity balances in excess of £1 billion.

[solomon] 09/3/2017 08:40

The last part also mentions that 1 in 5 dividend cheques from 2015 have not been cashed! Amazing.

[speedsgh] 09/3/2017 08:35

billy5 - Final dividend 15.88p. Full year 23.30p (+12%)

For dates see

They usually release a separate Dividend Declaration rns later in the morning following release of the Final Results.

[cwa1] 09/3/2017 08:24

Just in case anyone can't be bothered wading through 2 million pages to the end of part 4 of the announcement for the unimportant dividend details:-

2017 financial calendar

Ordinary 2016 final dividend ex-dividend date*

6 April 2017

2016 final dividend record date (Ordinary and ADR)

7 April 2017

Last day for Dividend Reinvestment Plan and currency election for 2016 final dividend

25 April 2017

Annual General Meeting

11am on 10 May 2017

2016 final dividend payment date*

17 May 2017

[lord gnome] 09/3/2017 08:13

Pah! Share buybacks are a waste of shareholders' money. Give me the cash.
Great numbers and a great outlook though. Another good year ahead. £6 by Christmas - no ramp intended.

[dr biotech] 09/3/2017 08:06

Wynmack you beat me to it 😀

[dr biotech] 09/3/2017 08:05

Wilson on CNBC says rather will move towards a payout ratio of 50%. Capital return next year more likely to be a share buyback.

[wynmck] 09/3/2017 08:05

Mark Wilson on cnbc...cap return."maybe in the form of a buyback"

[billy5] 09/3/2017 07:54

CWA1

Thanks for that info, plenty to wade through on these results.

Did you clock the date and amount of the normal divi as well.

Thanks again.

[cwa1] 09/3/2017 07:51

At the VERY top!!

We are now actively planning a capital return to our shareholders and debt reduction in 2017 and will invest further to grow our businesses.

[utyinv] 09/3/2017 07:47

Oggyrocks,

Special divi?

Where is that mentioned in results?

[oggyrocks] 09/3/2017 07:26

Look excellent. Special divided on way too.

[skinny] 09/3/2017 07:07

Profit
· Operating profit2,3 up 12% to £3,010 million (2015: £2,688 million4)
· Operating EPS2,3 up 3% to 51.1p (2015: 49.7p4)
· Operating profit and operating EPS exclude the impact of the change in the Ogden discount rate in UK general insurance, which has been classified as an exceptional item
· IFRS profit after tax down 22% to £859 million (2015: £1,097 million4) including the £380 million after-tax charge due to the reduction in the Ogden discount rate

1B1BCapital
· Solvency II capital surplus5 £11.3 billion (2015: £9.7 billion)
· Solvency II coverage ratio5,6 of 189% (2015: 180%)
· Solvency II operating capital generation £3.5 billion
· Net asset value up 6% to 414p per share (2015: 390p4)
· Holding company liquidity7 £1.8 billion (2015: £1.3 billion)

2B2B15BCash
· 2016 total dividend up 12% to 23.3p (2015: 20.8p)
· Dividend pay-out ratio 46% (2015: 42%4), progress towards 50% target
· Cash remittances up 20% to £1,805 million (2015: £1,507 million)

3B3B16BGrowth
· General insurance net written premiums3 up 15% to £8,211 million (2015: £7,171 million)
· Life insurance value of new business up 13% to £1,352 million (2015: £1,192 million)
· Fund management operating profit up 30% to £138 million (2015: £106 million)
· AIMS AUM trebled to £9 billion (2015: £3 billion)
· Total group assets under management up to £450 billion

4B4B17BCombined ratio
· General insurance combined operating ratio 95.2% (2015: 94.6%) excluding the Ogden discount rate impact. Including the Ogden impact, the combined operating ratio was 101.1%.

[alphorn] 08/3/2017 08:15

Why would anyone red tick a bullish post??? ;))

[dr biotech] 07/3/2017 21:10

Results under Wilson have exceeded forecasts so far and the so has gone up on results day. I'm not so sure this time, but AV doesn't keep me awake guessing like it used to either

[alphorn] 07/3/2017 17:26

Closed out some naked calls today as expecting results to be okish. Small loss, but am now net long.

[bracke] 07/3/2017 12:45

Of course!

[uppompeii] 07/3/2017 12:26

A position I suspect you are well versed in.

[bracke] 07/3/2017 11:18

Hmmmmm....... a considered trade based on a branch of fundamentals sometimes referred to as the 'revenge' analysis. This has the added advantage that if it is successful the satisfaction index is greatly increased beyond mere cash, not to mention that the investor considers it a move to the moral high ground.

[uppompeii] 07/3/2017 11:08

Added some in anticipation of karma for Moss screwing me over round about this time 5 or 6 years ago...