Aviva Share Discussion Threads

[muscletrade] 30/11/2020 15:58

It's a cunning plan. Aviva themselves surreptitiously raising the golden ticket non issue as a poison pill to put off a bid at 850p before they can conclude the planned divestments.

[1pencil] 30/11/2020 15:38

It's a bit of an old chestnut that one, it does the rounds every now and then but not really news.

Pretty sure there was a discussion around the time of the other 'chestnut' namely dividend ex-payment dates (for the record it's the 10th Dec 2020)

Perhaps France discussions are nearing final conclusion.

[woland1] 30/11/2020 15:34

I am utterly ignorant of the practicalities but if CGNU plc (later Aviva) inherited these contracts when they obtained Abeille Vie, can't Aviva hive off these contracts into a separate entity and sell it? Bankrupt that company and everyone's a winner. I'll get in contact with Companies House and set it up, call it 'Sophistry'.

[grahamburn] 30/11/2020 15:33

Just to clarify comments made by others above so far as I understand it.....

The Times report today and previous articles going way way back on this topic, state quite clearly that the policy was GIVEN to the individual when he was 7 years old. It wasn't INHERITED, so it will cease to exist on his death.

The legal processes are still ongoing and may find in either his or Aviva's favour. One has to assume that any other such policies were purchased by individuals who were much older. So if Aviva lose, it's a diminishing issue.

[cyberian] 30/11/2020 15:09

karv!...I thought that you had stated that you had SOLD earlier today due to various uncertainties, but may trade...that's fine. To me it appears that someone or other has an agenda at play here and bringing forward an old story. It was brought up during the conference call by an analyst and for all to hear, and yet almost all the brokers have upped their share price targets. The company have clearly stated their position and I am prepared to let it rest on that basis. Good luck with your trading.

[karv1] 30/11/2020 14:54

When is it wrong to spread knowledge and views?

[spud] 30/11/2020 14:50

First I've heard of it tbh. Certainly isn't a positive for the French unit sale imo.

spud

[woodhawk] 30/11/2020 14:49

karv1,

You can harp on about the supposed 'Golden Tickets' from now to eternity, but it won't have any detrimental effect on the share price. It's been known about for years already. Regretting having sold your holding already?

[jomac2412] 30/11/2020 14:46

Perhaps the potential buyers putting this out there to try and lower the price? certainly seems to have popped up out of nowhere and became a major issue whereas I'm sure most investors in Aviva have never heard of it until now.

[cassini] 30/11/2020 14:30

What, it's an heirloom?!!! Who knew it was possible to buy uncancellable perpetual time machine policies not restricted to the original holder...

Who thought it a good idea to issue them?

[gary1966] 30/11/2020 14:27

Does that mean it can be passed on to future generation ad infinitum as it was inherited by him?

[cassini] 30/11/2020 14:22

How can a 31 year old have a 'lifetime' golden ticket that Aviva stopped issuing in the 70s? Bizarre story.

[jomac2412] 30/11/2020 14:10

If there was any substantial threat to Aviva as a whole though this Golden Ticket you would have thought the share price would be tanking , as it is it doesn't seem to be bothering any II's and its been a known for quite sometime also wouldn't II's be doing extensive due diligence looking for this type of threat before putting 10's of millions of pounds into Aviva ?

[whatsup32] 30/11/2020 13:22

Muscletrade
I read today’s article in the Times , it really is rehash of past news.

Aviva CFO stated ‘we are appropriately provisioned’

[waterloo01] 30/11/2020 13:15

The closest I've heard about was a cousin in the US some years ago who bought a 'lifetime' ticket for about $10,000 with one of the US airlines.. They sold it to her as she was over 60 at the time, but she lived into her 90's a travelled extensively, at basically no cost.
Still can't quite get over that someone would have written this into a contract without an end date.

[woodhawk] 30/11/2020 13:10

So, the 'Golden Ticket' expires with him.... hmmmm

[wba1] 30/11/2020 13:05

karv1; I don't think it suggests he can add funds. George is 30 (now), has an average future life expectancy of circa 60 years and past articles have suggested the ticket returns 68% pa with no risk. He was awarded 9 million euros 5 years ago so his current investment value must be significantly higher. It is easy to see how the compounding effect over his lifetime would deliver the stated numbers without additional investment.

[adelwire2] 30/11/2020 12:40

Even 400p would be very nice.

[karv1] 30/11/2020 12:40

Article 3 years old. One actuary believes George’s contract alone could cost Aviva at least €1.22billion over his lifetime – and if the firm is forced to expand the range of investments covered, the cost could even hit €5billion.

His Paris lawyer Nicolas Lecoq-Vallon said he has ‘about 50’ clients also suing Aviva, some of whose holdings are as large as George’s.
........The Independent 2015 When the internet started to speed up the transmission of price changes in the nineties, Aviva France tried to sneak in new terms. It offered investors the equivalent of £10 to sign new papers. Almost all the contract holders did, apart from George.

He has switched investments and added more money to the pot while watching his fortune grow exponentially over time. “I don’t want money, I just want my contract,” George told the FT
//// my view
Would that suggest that he could add funds?

If there was a limit written into the contract would av have won already or just paid up?
All I have seen on news is AV has tried to get out of it in the courts and I have not seen a single win for AV though a lot of the stories do seem to be a few years old.
Would A new owner of AV France not take on these unlimited liabilities?