Aviva Share Discussion Threads

[linton5] 10/12/2020 16:23

Aye I joined you then but bailed at 251 went into aa at 31.8, money was tied up last week to get back into bp at 245 🙄that was annoying but you can't win them all. GLA I purchased more av today this is the biggest bargain in the ftse100

[cassini] 10/12/2020 16:21

Imperial (IMB) too, didn't miss a beat today.

On the other hand my punts in RPS (engineering consultancy) and MARS (Marston's Brewery) both took beatings.

[eurofox] 10/12/2020 16:19

got into bp weeks ago in the 212's

[linton5] 10/12/2020 16:14

And bats eurofox got in at 2650 last week cracking divi

[muscletrade] 10/12/2020 16:00

Aviva having a reasonable day considering it is only down 3.3% overall when 2% of that is due to ex div. Meanwhile L&G down 3% with no dividend effect.

Aviva has tailwind of having Euro biz that is becoming more valuable as Euro increases in value and this also attracting additional interest from AXA reported today. Not to mention confirmation of HK sale.

Also market seems to like CEO reorganisation/value for shareholder plans albeit not priced in yet.

Having said that I agree with Spud that market is still pricing in a deal on Brexit although it is hard to see how given EU intransigence on level playing fields, which should be renamed as it is all about wanting to control a sovereign nation.

I suspect that if there is any way forward it has to be brokered by the ultimate Drama Queen Merkel riding to the rescue at the last moment.What a dance, what wonderful choreography. I suspect that Sunday will not be the final day. Merkel being heavily criticised in German press today for allowing the Brexit drama get to this stage of almost total breakdown.

Oilers having a great time today again as Brent above $50 since forever. So, yes Eurofox plenty of good hedges about in the sector.

[eurofox] 10/12/2020 15:31

BP is turning out to be a fantastic hedge

[creditcrunchies] 10/12/2020 15:13

I've priced in no deal they are literally miles apart where realistically we've got days left before everything shuts down until the second week of 2021. The only glimmer of light is a last minute extension of the transition period.

[dr biotech] 10/12/2020 15:08

I’ve got about 40% cash now, have sold L&G this morning as well as some here and in Lloy and a couple of smaller cos. Perhaps I’m too pessimistic but I just don’t see a deal being done. Seems to me BJ and his mates think optimism and positive attitude is enough, which it isn’t.

Hopefully like a lot of others, I’ve had a great 6 weeks since the initial vaccine announcement and whilst I doubt we will sink back to the lows the short term outlook is less clear. If it’s no deal, then I guess the sides will still carry on talking anyway until something is achieved. Whether that’s months or years who knows. Probably wait and see until one side thinks they have they upper hand.

I can’t say I’d know what impact brexit will have here though. I guess if the UK economy is going to be smaller then that’s less pie for us. But presumably the price we get for the French and other units would be higher if the exchange rate drops. Av have always said the impact would be small.

[unastubbs] 10/12/2020 14:47

RNS above

10 December 2020

Aviva completes sale of Hong Kong joint venture

Aviva plc ("Aviva") today announces that it has completed the sale of its entire shareholding in its Hong Kong joint venture, Aviva Life Insurance Company Limited(1) ("Blue"), to its joint venture partner, Hillhouse Capital. The sale of Aviva's shareholding in Blue was announced on 20 November 2019.

[spud] 10/12/2020 14:41

Market still pricing in a deal atm. Monday could be ugly if Boris ends up standing on Miss Leyen's hoof.

I'm not unwinding any positions prior to Monday as I still think the rabbit could well be making an appearance.

spud

[karv1] 10/12/2020 13:46

Even HSBC is down 1% with 90% of profits from abroad, my question would be are we in the market version of a no-deal Brexit day, or could things still get worst tomorrow and a big drop day on Monday if no deal.
It could be that Monday could become an up day if most of the bad news is being absorbed today. Very hard to call the direction as it all depends on Boris and no other factor. The pound is only down 0.85% v the dollar, nowhere near down as much as the experts claimed would happen in a no-deal scenario, so maybe the currency experts still think there is a good chance for a deal.

[mark1000] 10/12/2020 13:35

If we get a no deal Brexit is there any direct impact on AV. My thoughts are it would bring the general market down and that would include AV on the positive side Overseas entities will be more valueable if run on GBP. Inflationary pressures would be a worry but not a short term issue. Would be interested in others views as the chances of a no deal are say 50/50 ????

[watfordhornet] 10/12/2020 12:42

I will have to learn though - it is nearly always better to sell day b4 ex divi and then buy in on ex divi day.It always seems to overshoot the divi amountNot just AV. But seems to do across all my shares

[adelwire2] 10/12/2020 12:41

Me too. Phew!

[tygarreg] 10/12/2020 12:06

Got into a mild panic and then realised it goes 7p ex div today!!

[spud] 10/12/2020 11:23

Aviva completes another giant bulk annuity transaction
by Lyle Adriano 10 Dec 2020



Aviva has completed a £103 million bulk purchase annuity transaction for the Homestyle 2007 Scheme.

The insurer will insure the defined benefit pension liabilities of all 1,294 scheme members. The transaction also removes the investment and longevity risk of these members from the scheme. Once the deal closes, members will see no change in the amount of their benefits.

EY led the process to choose an insurer and negotiate for Homestyle Pension Company Limited. BESTrustees is an independent trustee to the Homestyle 2007 Pension Scheme.

“We are delighted to have worked with the trustee of the scheme to complete this transaction which brings security for their pension scheme members,” said Aviva head of bulk purchase annuity origination Jamie Cole. “All parties have worked well to deliver a smooth transaction, with close collaboration and pre-agreed terms helping deliver a positive outcome.”

“The bulk annuity purchase for the Homestyle 2007 Pension Scheme is a positive outcome for both the scheme members and the sponsoring employer. We are particularly pleased to have been able to move quickly to complete this transaction, giving our client confidence in the transaction in turbulent markets,” said EY-Parthenon partner Taylor Dewar.

“I am really pleased we’ve been able to complete this transaction, which materially improves the security for all members of the pension scheme. The transaction required all parties to work collaboratively and at speed to take advantage of attractive pricing in the market,” added BESTrustees director and chair of trustee for the scheme Rachel Tranter.

spud

[wba1] 10/12/2020 10:33

And the cultural fit would be spot on. Both have a hierarchical management culture which has weakened their position against key competitors over many years. Aviva had aspirations to compete with the top 3, and 15 years ago Axa were seen as on a par with Allianz. No more. Axa are barely more than half the Allianz market cap and less than Zurich. The good news is that this suggests Axa need Aviva more than the other way round (in order to help reverse their decline down the league table).

[cyberian] 10/12/2020 10:25

AXA would be brilliant if they are interested...huge market cap. (circa $57 bln) and over 99,000 employees spread around the world, plus a respectable P/E 8.95....could be!

[wba1] 10/12/2020 09:22

I am unsure how to read the report. If it implies that potential buyers are only now entering what I assume is a virtual data room it seems surprising. I would have assumed the data room would have been opened to other buyers almost immediately after expiry of the Allianz exclusivity. Not really an issue, but it does suggest to me that any deal is unlikely to be announced before February. But the Axa interest (if real - Axa management do play games with competitors) is very good news as they would have the clout to bang politicians and unions heads against a brick wall.

[salver2] 10/12/2020 08:59

That is the article!

[unastubbs] 10/12/2020 07:45

according to this article from yday, and which i am sure is the one that salver2 refers to, the new interested party is AXA!

Jacques de Peretti , CEO of Axa France , did not evade the question. “We are not used to commenting on what we do. However, we are not going to hide the fact that we are indeed looking at this issue,”



Also this statement from the author of the piece:

"According to our information, a new stage in the Aviva France sale process has been taken since the beginning of November, the sale having entered a phase of "due diligence" in which potential buyers would have access to all documents (financial, legal, accounting, tax, etc.) of the company."

[hhhold2] 10/12/2020 07:43

The French had stated that if the fisheries are left as is then they will send Britain the updated version of its latest military tank,

it has 1 forward and 10 reverse gears!

[harleymaxwell] 10/12/2020 07:33

Interested to see Aviva backing a new reinsurer Conduit - quite a move maybe brave into a volatile segment - appreciate that there is some upward rate movement in the sector but shift in appetite into riskier investment strategy maybe ...

[unastubbs] 10/12/2020 07:24

spud, hear, hear!