Aviva Share Discussion Threads

[mj19] 07/3/2024 07:44

Aviva, an insurance group, announced that full-year operating profit grew 9% to 1.47 billion pounds. The company proposed a final dividend per share of 22.3 pence, giving a full-year dividend per share of 33.4 pence, up 8%.

[muscletrade] 07/3/2024 07:42

@Tourist....yes thanks for pointing that out(eating my wheatabix at the time :)...so even better although IFRS still best ignored.

What a contrast to L&Gs report yesterday. Well done Aviva team.

[pvi1] 07/3/2024 07:40

Great results. Who knows if that will result in a rise today. May have already had it

[skinny] 07/3/2024 07:29

A snippet :-

[lord gnome] 07/3/2024 07:29

Found it. 37.7p

[zimbtrader] 07/3/2024 07:28

Agghhh, what an ugly format of a report to navigate! Can't find EPS anywhere and struggling using my phone to find year to year comparatives. On the face of it, good results with divi up, divi guidance improving (if i read that right), a shared buy back (which I am less enamored with). Going to wait for the ADVFN release to see if that's easier to navigate.

[skinny] 07/3/2024 07:25

Page 235 of the Annual report.

[smurfy2001] 07/3/2024 07:23

Hold on, why is there no EPS figure?

[skinny] 07/3/2024 07:22

Lord Gnome - a start :-

"Operating earnings per share is derived from the Group adjusted operating profit APM. Further details of this measure are included in the 'Other information' section of the Aviva plc Annual Report and Accounts 2023".

[tourist2020] 07/3/2024 07:21

MT it is an IFRS PROFIT. Big plus.

[igoe104] 07/3/2024 07:20

Best thing Av did was get rid of Tulloch and bring in Amanda its transformed the company..

[skinny] 07/3/2024 07:19

The 6 month high @456.40p, 12 month high @467.30p and the 5 year high @473.50p all clearly in sight.

[lord gnome] 07/3/2024 07:19

In amongst the plethora of numbers and statistics has anyone managed to spot the EPS figure? I haven't.

[eldienob] 07/3/2024 07:19

hxxps://www.aviva.com/newsroom/news-releases/2024/03/FY2023-results-announcement/

[muscletrade] 07/3/2024 07:15

Yes excellent results and a slight beat on operating profit(bit short on my own ambitious target but still good)
Bang on target with the dividend which the said at the 9 month update and buy back is the extra bonus at 300M(I was rather hoping for 350m but still happy).

The icing on the cake is increasing the forward guidance.

Some headlines will focus on the IFRS loss I expect but best to ignore.

[igoe104] 07/3/2024 07:07

Profit up 9% and dividend up 8% excellent stuff...

[skinny] 07/3/2024 07:02

• Final dividend per share of 22.3 pence (2022: 20.7 pence) giving a total dividend per share of 33.4 pence (2022: 31.0 pence), up 8%.

[skinny] 07/3/2024 07:01

Strong 2023 results with continued profitable growth momentum

• Group operating profit‡,1 up 9% to £1,467m (20222: £1,350m).

• Solvency II operating own funds generation‡ (Solvency II OFG) up 12% to £1,729m (20223: £1,540m), which included a £208m initial benefit from two partnership extensions in IWR. Solvency II OFG excluding management actions and other up 28%.

• Solvency II operating capital generation‡ (Solvency II OCG) up 8% to £1,455m (20223: £1,352m).

• Solvency II return on equity‡ 14.7% (20223: 9.9%).

• Cash remittances‡ of £1,892m up 3% (2022: £1,845m).

• General Insurance premiums‡,5 up 13%6 to £10,888m (2022: £9,749m). Undiscounted COR‡ of 96.2% (20222: 95.2%) and discounted COR of 92.7% (2022: 94.3%).

• Insurance, Wealth & Retirement (IWR) operating value added‡ up 13% to £1,849m (2022: £1,635m).

• Baseline controllable costs‡,7 down 1% at £2,734m, more than offsetting inflation. Our continued focus on cost efficiency has enabled us to deliver our £750m cost reduction target a year early.

• IFRS profit for the year8 of £1,106m (20222: loss of £1,030m).



New share buyback and upgraded dividend guidance

• Solvency II shareholder cover ratio‡ of 207% (2022: 212%) and centre liquidity‡ (Feb 24) of £1.9bn (Feb 23: £2.2bn).

• As part of our programme of regular and sustainable capital returns we are commencing a new share buyback programme of £300m immediately, taking the total amount of capital returns and dividends paid to shareholders to more than £9bn over the last three years. Our preference remains to return surplus capital regularly and sustainably to shareholders.

• Final dividend per share of 22.3 pence (2022: 20.7 pence) giving a total dividend per share of 33.4 pence (2022: 31.0 pence), up 8%.

• In light of the significant progress we have made and our confidence in Aviva's future, we are upgrading our dividend guidance and we now expect to grow the cash cost of the dividend by mid-single digits9.



Continued trading performance

• UK&I General Insurance premiums‡,5 up 16% to £6,640m (2022: £5,740m) and undiscounted COR‡ of 96.8% (20222: 96.4%). UK personal lines premiums grew 24% driven by strong rate discipline in the inflationary environment and new propositions. UK commercial lines premiums grew 10% due to rate actions and new business growth.

• Canada General Insurance premiums‡,5 up 10%6 to £4,248m (2022: £4,009m) and undiscounted COR‡ of 95.3% (20222: 93.7%). We saw excellent growth of 13%6 in commercial lines and 9%6 in personal lines driven by rate increases and strong new business growth.

• Protection and Health sales5 were up 16% driven by strong growth in Health, up 41%, and Individual Protection. Value of new business on an adjusted Solvency II basis (VNB)‡ was 3% lower as the impact of interest rate increases more than offset the growth in sales.

• Wealth continued to show resilience in challenging market conditions with net flows‡ of £8.3bn (2022: £9.1bn) representing 6% of opening Assets under Management (AUM)‡. AUM grew 15% to £170bn (31 December 2022: £147bn).

• Retirement sales5 were up 14% to £7,088m (2022: £6,238m) driven by £5.5bn of Bulk Purchase Annuity (BPA) transactions and increased demand for Individual Annuities in a higher interest rate environment. VNB‡ was up 9% to £286m (2022: £264m).

• Aviva Investors is a core enabler of growth for the Group. In 2023, it originated £2.6bn of real assets for our annuities business, and over 60% of Workplace net flows‡ were into Aviva Investors.

[zimbtrader] 07/3/2024 06:38

Happy to take one up if only to shield another 5k from those grasping barstools at the HMRC....

[1robbob] 06/3/2024 21:21

Looks like Generali are trying to rattle someone's cage
....but whose???

[1robbob] 06/3/2024 21:19

fenners66
In relation to the size of capital markets its peanuts
Persuading one major Pension Fund to increase investment in the UK Market would achieve the same or more

[fenners66] 06/3/2024 20:55

It could mean upwards of 2.5bn a year invested extra(?) in UK shares 500k investing 5k each

Can't harm

[1robbob] 06/3/2024 20:16

The new ISA allowance for investment in UK Companies will make no difference whatsoever to the popularity of the UK Market. Also the Admin could be nightmare