Aviva Share Discussion Threads

[rongetsrich] 30/12/2023 19:01

How did we end lower?

[smurfy2001] 30/12/2023 12:42

Aviva boss Amanda Blanc and retail guru Mary Portas among business figures in new year honours list

[smurfy2001] 30/12/2023 11:44

Yes i'm a very pleased RR. holder. Wish l was as pleased here.

[whatsup32] 30/12/2023 11:27

1Rob yes lovely write up in The Times
"Aviva chief is honoured for raising SP"

In which case Tufan Erginbilgic of Rolls Royce should be knighted , he raised share price by near 300% in 4 months.

[ayl30] 30/12/2023 09:40

Agreed! Let's hope she does not do a Dame Alison Rose!!!

[1robbob] 30/12/2023 08:52

Congratulations to Dame Amanda

[pj84] 28/12/2023 11:05

Aviva to earn another £80m from sale of Singlife stake

"Aviva will receive an estimated £80million extra from the deal to offload its stake in Singapore Life Holdings (Singlife).

The insurance giant initially agreed in September to sell its 25.9 per cent holding in Singlife, in addition to two debt instruments, to Japanese company Sumitomo Life for £800million.

It now expects to receive £930million in total proceeds related to the sale after Sumitomo reached a separate arrangement to buy the Singlife stake belonging to asset manager TPG Capital.

Aviva expects to use the additional cash for either reinvestment, investor returns, or mergers and acquisition deals when the deal is finalised, which it expects to happen in the first quarter of next year."

....

[1robbob] 27/12/2023 13:28

bbd2
Highly likely that a further £300m/£400m Share Buyback Programme (circa 3% of outstanding ord shares) will be announced with the Annual Results on 7th March

Should this be the case and the Programme successful the dividend per share increase for 2024 vs 2023 should be around 7% ie 35.7p (33.4p est)

[bbd2] 27/12/2023 11:51

True but I wonder how long it will be before the last option is utilised again.

[1robbob] 27/12/2023 11:31

bbd2
Nothing new there, all been said before

[bbd2] 27/12/2023 11:29

Hmmm……

“Under this framework, any surplus capital is available for reinvestment in the business, bolt-on M&A, and/or additional returns to shareholders”

[cwa1] 27/12/2023 10:19

Christmas bonus :-)

27 December 2023



Additional proceeds of c.£80m expected from Aviva's exit of Singlife joint venture



Aviva plc ("Aviva") today announces that it expects to receive approximately £80m1 (SGD 0.1 billion) of additional proceeds relating to the sale of Aviva's stake in Singapore Life Holdings Pte Ltd ("Singlife"), together with two debt instruments, to Sumitomo Life Insurance Company ("Sumitomo Life"). The additional proceeds are the result of a separate transaction whereby Sumitomo Life has agreed to purchase TPG's2 equity stake in Singlife. Receipt of the additional proceeds is conditional upon the completion of the separate transaction between Sumitomo Life and TPG.



The revised total proceeds that Aviva expects to receive are approximately £930m1 (SGD 1.6 billion). The disposal proceeds will be considered alongside Aviva's existing capital management framework. Under this framework, any surplus capital is available for reinvestment in the business, bolt-on M&A, and/or additional returns to shareholders.



The disposal of Aviva's stake in Singlife, including the sale of two debt instruments, was announced on 13 September 2023 and remains subject to customary closing conditions, including regulatory approvals, and is expected to complete in Q1 2024.

[cjac39] 21/12/2023 09:49

1rob sorry but this is precisely what happens for eg with abrdn / std life / phnx and back in the day henderson / pearl. 10 yrs over all the aum. but with some guard rails over performance which is more than they have today with AGI or MNG. so in some sense its less of a conflict than today.

[cyberian] 20/12/2023 23:47

eurofox, hopefully you are not away yet on a tropical Island for Christmas as I wanted to ask your views about the Wall Street decline late today. Just a brief profit taking after a very strong run recently, a modest correction or more up your street down to some Zero-day options and technicals being the culprit around 3.00 pm.ET?? I know what the same day options are but for the less informed they give their owners the right but not the obligation to buy or sell the underlying asset at a set price. Not that I have ever tried this type of options. I had instantly thought of you as the ever warning/knowing expert person on our UK other Friday closing options on the past.

I had read that nearly a million option contracts were expiring on Wednesday on the S&P500 with a strike price of $475...once some party said at the "Closing Bell" it seemed like the selling begot selling. At the lowest point of the day the S&P dropped 1.23% while the Dow Jones average shed 373 points ,or 0.99%.

Answers on a post card please! but seriously, any views are welcome, and hopefully the Dow fall tonight will not disturb our forward momentum correction to improving year-end levels in the FTSE.

Some really excellent views/analysis on our Aviva BB today, and many thanks indeed.

[1robbob] 20/12/2023 17:55

Surely you would not give a sole AM the investment contract for ALL your assets?.....and for 10 years
I think not

[cjac39] 20/12/2023 17:23

yes i think many asset managers woudl love to have a 10y contract...

[makinbuks] 20/12/2023 16:46

Isn't that a good thing? High level of recurring revenue. Spun out with a long term agreement?

[1robbob] 20/12/2023 16:05

cjac
Also on the valuation of the combined AM of M&G and AV
I question the external value, when a very high % of AUM are their own funds

[makinbuks] 20/12/2023 15:15

cjac, really enjoyed reading your post, thank you. The only part I didn't like was the final sentence! Surely all that goes before represents more than a "comfortable hold"??!?

On the sum of the parts discussion there have been many Phd's on the subject of the conglomerate discount going back to the days of Hanson. Part of the theory is diversification. Own an ice cream company and an umbrella manufacturer and you don't need to worry about the weather. The recent discussions on the effect of interest rates on the different businesses within AV. is pertinent to this.

Then there is the question of the central functions, is this a drag on the sum of the parts performance or an efficient means of supplying common services. I note your comment on "a behemoth of enormous expensive staff cost", yet surely AB is on this.

I wonder too about the value of GI goodwill, or brand these days. It seems to me you can spring up with something like Shelia's Wheels and grab quite a share in no time at all so moats are not as wide as they used to be. Also an initiative like that in a start up Fintech has a dramatic effect on valuation while AV. could do it and barely make a dent.

Finally, there's the market view. Will it change? I doubt it. Conglomerates have been out of favour for 60 years. Right now especially in financials. Look at Barclays. If you believe the accounts you could just stop trading and realise £3 a share, so the franchise is worth -£1.50.

Your point about merging the asset manager with MNG won't happen because you are asking turkeys to vote for Christmas. The catalyst would have to come from outside. Perfectly feasible none the less I agree

[cjac39] 20/12/2023 13:45

pull AGI out and merge with M&G AM also pulled out of M&G to make one large dual client AM entity. hive off the life biz and sell to phnx and keep the GI as a sole listed entity.

[1robbob] 20/12/2023 13:35

cjac

If you were going to break AV up. How would you do it?

[spud] 20/12/2023 13:16

Geck - Sorry but you need to refrain now. We've moved on and it is AV we're discussing.

spud

[whatsup32] 20/12/2023 12:58

Give it a rest Gecko. Enough is enough