Aviva Share Discussion Threads

[whatsup32] 07/5/2020 19:57

cjac39 _ WBA

Can you please comment in layman's terms for simpletons like me.

[cjac39] 07/5/2020 18:27

WBA - totally agree. I was looking at direct line read across Cor. The exp and commissions are different shape but add to the same. It’s the operating insurance result where they fall short. Makes the cor 97/98 rather than early 90s and needs fixing. Asset mgmt is also needing more scale - euan Munro is decent and I’ve met him few times but 300bln just doesn’t cut it. Either narrow and specialise or go for it. Buy m and g is so compelling or someone will eventually get around to putting them out of it

[paulof2] 07/5/2020 18:19

Can see this going back to 260 then down again until the next announcement

[wba1] 07/5/2020 13:57

cjac39; I agree it would be better to have a CEO with a backgound in asset management and life. GI is important as a high quality profit stream (low volatility) but is relatively easy to manage (as long as you avoid the likes of Snowball). I would get a top outsider with the appropriate background in as CEO,clear out the management stables and bring in a serious GI manager to run that side and sit on the board. My choice for the latter would be Tony Bradshaw, who is Benelux CEO for Allianz and a top GI actuary who has worked in the UK and Europe. Aviva needs a man who understands the COR drivers to get it down from the current level nearer to the 90% mark.

[panshanger1] 07/5/2020 12:45

Putting phnx on a near 8 % yield Pretty secure too looking at the update

[milliethedog] 07/5/2020 12:45

Can't get link to work, sorry.

It's an article on www.proactiveinvestors.co.uk

[milliethedog] 07/5/2020 12:44

JPMorgan sees opportunity to buy some UK insurers as fundamentals still healthy

[...]

Interesting, given above comments on valuation......

[linton5] 07/5/2020 12:40

Well done phnx for also paying out 23.5p divi and looking after shareholders income many of who as I say depend on this

[panshanger1] 07/5/2020 12:39

FWIW : RSA and PHNX both had positive updates today

[cjac39] 07/5/2020 12:26

i think where they missed a trick is not having a good life guy in charge or near the top team. letting andy Briggs go to phnx was a mistake. right now, Aviva should be sizing up an acquisition of mng which i would imagine is next on phnx list. not only does Briggs understand life ins well but he also helped build the pru UK business. as a bolt on for Aviva it would be ideal and also would allow them to make reasonable money in asset mgmt as despite being a good size, £300 odd billion isn't really enough to make it as a global asset mgmt business as opposed to niche. whilst the gi business is important and valuable , and from a strategic perspective I'm not convinced splitting is the only way to go, at its core Aviva is a life business. strategically i like the diversity of having gi as well but the market, time and again, has not valued it properly so it must be right for shareholders to eventually split them maybe catalysed by a decent acqn like mng.

[mark1000] 07/5/2020 10:40

I have voted your post up Dodge Melster although I am unsure why you like people who trade in half truths other than it being entertaining after all we all have our own agendas.

[dodge meister] 07/5/2020 10:07

I like people quoting only part of the news for their agenda. BOE scenario has the lost ground recovered by mid 2021. The markets are forward looking and have already discounted Q2. Look at the RSA results today...no real problem for insurance companies except perhaps Hiscox, but lets face it, reinsurance is normal practice.

[buywell3] 07/5/2020 09:16

One would imagine assets owned by many insurers are dropping or going to drop further in such a scenario as


08:08 BOE Expects UK Economy to Shrink 25% in 2Q

[wba1] 07/5/2020 08:42

Just catching up after a bout of decorating!

Interesting to see that the ST sum of parts valuation reflects previous discussions on this board. Perhaps what is even more peculiar (and can only reflect the city view of Aviva management) is the extraordinarily low price to book value of Aviva compared to the likes of L&G and RSA. Which brings us to latest results. Both Direct Line and RSA have had results announcements this week which support a positive view for general insurance performance at Aviva. Both have risen on the news, but that has not reflected onto other insurers. My guess is that there will be no significant or sustained rise in the Aviva price until the company publicly reassures the market about BI exposure and general performance. I think there are some questions about whether the Canadian dental exposure extends to other schemes in that subsidiary (I suspect not to any extent) and whether management are on top of any exposures elsewhere in the international companies. Only a public statement will help. I assume something will be said around the time of the (virtual) AGM, on this and other key matters such as investment performance and solvency (neither of which should be an issue).

I am no fan of Tulloch and agree it was a mistake both to appoint him and not to bring in an outsider. However Culmer would most definitely not be on my list. His background is pure CFO which is not what we need. And his record does not inspire confidence however technically sound he may be. He was CFO of Lloyds through a period of sound performance but generally moving sideways, and before that - at RSA - he was CFO when the huge accounting holes in their Irish business were being missed. That he jumped ship just before the scandal broke is no defence to his failure to exercise proper oversight. There are many better candidates elsewhere.

[yf23_1] 06/5/2020 22:14

Its technical analysis as rated on the biscuit desirability index.

Bourbon - a decent rise but a sickly feeling at the end.
Digestive - a slow gradual rise or fall.

(I'm making this up as I go along)

[neophytos] 06/5/2020 20:49

Reading through the posts, some of the comments on here seem to be quite cryptic. Should this not be reserved for discussions on cryptocurrency?

[yf23_1] 06/5/2020 17:58

Bit of a chocolate oaty but turned into a bourbon.

[cjac39] 06/5/2020 11:28

TWOS
no idea what his comment means but this is an entirely standard annual update to the mtn programme

[panshanger1] 06/5/2020 09:39

Nice move higher on decent volume this morning New buyer in the market ?

[salver2] 06/5/2020 09:02

Just rubbish I wouldn’t bother

[salver2] 05/5/2020 18:41

Interesting comments by axa whose results were out today similar company whose shares have also fallen a lot not as much as aviva

[salver2] 05/5/2020 16:12

Well said - I also don’t know!