Aviva Share Discussion Threads

[1robbob] 08/7/2020 11:16

As private shareholders we have little sway, but Institutional shareholders should demand that the new CEO (AND CHAIRMAN) stick to the existing 'Progressive'
dividend policy. This will ensure that they do not get a soft start to their tenure.
Unless they throw the kitchen sink at the figures (more provisions!!), there is absolutely no reason to change the dividend - it is well covered and the solvency ratio within the target range of 160%-180% - of course they would prefer it if the distribution wasn't so high - but that's life, it is. Also, the Chairman should be denied the opportunity to adopt the Share Buy-Back policy that he squandered Lloyds Bank's cash on - ALL surplus cash should be returned to ALL shareholders EQUALLY and not used as an artificial EPS enhancement and dividend cost saving...End of rant, sorry!!

[imagining] 08/7/2020 10:38

A lot of divi investors were drawn in by the board by the announcement that Aviva would be paying out a 'progressive' dividend. To suddenly rebase the divi payout now would be totally unfair to shareholders and yet another stab in the back I feel after all we've had to endure in recent years. The Board need to repudiate these negative rumours immediately.

[lord gnome] 08/7/2020 10:32

Just what I need. Yet another dividend 'rebase' from Aviva.

[whatsup32] 08/7/2020 09:57

The Times has a long article on Aviva by Katherine Griffiths.
Main points
Strong choice for Av.
Radical actions needed at Av.
Break up looks attractive
Slash prices for companies to be disposed
Dividend requires rebase.Meaning reduction .
Ms Blank starts work Monday

Not earth shattering article but not negative either .

I don't understand why dividend needs to be redused given company stated it's more then covered.

[cjac39] 07/7/2020 21:06

We shall see. Sometimes someone average steps up and surprises. I’m neutral albeit it seems odd to go permanent from board.

It’s not rocket science. Reinstate decent divi and sell some European rubbish and it’s 4+ all day long.

[wba1] 07/7/2020 20:11

eurofox;

in my case it is because
* we now have both chair and ceo from a general insurance background when I would prefer to see either a life/asset background or at least a mix.
* the chair made a huge mess as CFO at RSA and Blancs record although ok, hardly marks her out as a big hitter in insurance never mind anything wider.
* the early comments from Blanc are vacuous management waffle.

But I hope to be proven too pessimistic and that they will rise to the challenge.

[uppompeii] 07/7/2020 16:54

Some of us have been here 25 years ???

[eurofox] 07/7/2020 16:52

... must say, I can't fathom the glass 3/4 empty gloom here - but hey-ho, what do I know?

[whatsup32] 07/7/2020 16:46

Getting the feeling we’ve been sold a dud yet again.

[wba1] 07/7/2020 16:17

I am a bit concerned at the report in the FT that she left Zurich because she could not get on with Mario Greco. I came across Greco at Allianz (where he ran Italy and then joined the global board). Whilst he has some of the traits of a typical Italian CEO (status conscious and sometimes it can be difficult to know what he is thinking because he can assume non-Italians understand the management speak of Italy), I would take his judgement over Blancs every day. He is proven and successful.

Hopefully Blanc leaving Zurich was just a personality clash (easy with Italian execs) rather than anything more serious in terms of her judgement.

[essentialinvestor] 07/7/2020 15:01

What the market wants from AV is focus and clarity.

With respect to the MT, would question how much of that he was going to deliver.

Hopefully the new CEO can outline plans without conducting yet another review.

[wskill] 07/7/2020 12:00

Must be a takeover target now,before the new CEO gets her feet under the table.

We live in hope anyway, yes I have noticed we are very strong on bad days in the market very unusual.

[eurofox] 07/7/2020 11:57

This is being persistently bought even on a down day - a completely new dynamic for the SP?

[wba1] 07/7/2020 10:48

I am not encouraged by the Blanc interview reported in hxxps://www.insurancebusinessmag.com/uk/news/breaking-news/aviva-ceo-details-her-strategy-for-delivering-the-next-phase-of-insurers-journey-227109.aspx.

Unfortunately her spiel is full of the usual management school speak and actually says nothing about strategy. More worrying is that distribution seems top of her concerns, which is just a reflection of her career focus to date. I hope this is just a rather bland reflection of how matters have moved quickly and she is still working on a proper strategy - but it is not a good start. Her record at Axa was less than stellar and very much based on 'shovel in the business and worry about whether it makes money later'. I hope that will not be repeated.

[oggyrocks] 07/7/2020 10:46

Lots of positive news stories when searching on google today. Hopefully this is the start of a stong new direction for the company.

Have a decent size holding (i'm an idiot), so finally a happier holder. Invested originally as wanted a share paying a reliable dividend.

[whatsup32] 07/7/2020 10:02

Pay 1 million
Bonus up to 200% of pay
Awards underlong term inventive plan 300% of basic .


Tulloch also will continue to receive payment for the next six months .

Anyone else want to go on this gravy train


Guardian finance section for link

[gary1966] 07/7/2020 10:01

She probably won't buy them she will be awarded them over the years as a bonus.

[1robbob] 07/7/2020 09:55

I think I read somewhere that AB has to buy shares to the value of 3x her annual salary, that is £3m of stock. Presumably, she can not make this purchase until she has
unveiled her strategy....??

[ianood] 07/7/2020 09:46

This is the comment from yesterday's RNS that took my eye:
"We will look at all our strategic opportunities, and at pace. I have been on the Aviva Board since the start of this year and have a good understanding of where the business has its strengths and what actions we should take across our portfolio."

I really liked the "and at pace" bit! Makes me think the lady has it pretty well mapped out?

[whatsup32] 07/7/2020 09:44

By not paying dividends Tulloch did M&s Blanc a massive favour. All she needs to do is reinstate dividend and she is in shareholders good books and a jump in share price .
Ofcourse this will also allow her to be eligible for bonusses.

Going forward I'm hearing the same as previous incumbent , sell some parts, reinvest here and there blah. blah.

Sorry boys but I'm not getting excited with our new CEO

[gary1966] 07/7/2020 09:35

Not sure why we won't and shouldn't expect a high operational performance. Aviva largely unaffected by COVID-19 other than market falls.

[igoe104] 07/7/2020 09:17

NEW NOTE - Alpha Value


Here is the summary.

Finally, a change of strategy?


With a new CEO, Amanda Blanc, Aviva’s shareholders could dream of a possible change in the group’s strategy, with a more focused insurance business. The new Chief has an opportunity to take painful decisions in a year where no one will require a high operating performance.

[lauders] 07/7/2020 02:22

I think he would have made a better Group Chief compared to Tulloch, and I think Phoenix Group are now lucky to have Andy steering their ship!

As a PHNX shareholder as well as an AV. shareholder I sure hope you are correct about the statement above re: PHNX. As investments PHNX have far outpeformed AV., so I am hoping that the changes at PHNX will maintain the postive diretion the company is going in, while yesterday's RNS will mark the way for a new positive direction for AV. Amanda Blanc can make herself very popular by reinstating the postponed dividend ASAP for a start.