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    AV.   GB0002162385

AVIVA PLC

(AV.)
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Irish insurance regulator urges reform of renewal rules

07/21/2021 | 07:03am EDT
FILE PHOTO: Offices in the Central Bank of Ireland are seen in the financial district in Dublin

DUBLIN (Reuters) - Ireland's Central Bank on Wednesday called for the reform of the home and car insurance renewal market, saying current policies can significantly penalise those who remain with a particular provider while giving lower prices to new customers.

The bank, which acts as the country's regulator for the insurance sector, criticised the policies of charging customers higher premiums relative to expected costs the longer they remain with an insurance provider, a policy known as "price walking."

"Our analysis shows that some of the practices identified could result in unfair outcomes for some consumers in the private car and home insurance markets," the bank said in a report that looked at 11 providers and surveyed 5,500 consumers.

"As a consequence of these practices, the premiums paid by certain policyholders deviate significantly from the expected costs of the policy to the insurer," the report said.

The bank called for a ban on "price walking" in personal motor and home insurance markets, new requirements for providers to review their pricing policies and processes annually and new consumer consent and disclosure rules.

(Reporting by Conor Humphries; Editing by Bernadette Baum)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AVIVA PLC -0.74% 400 Delayed Quote.23.00%
AXA 0.53% 23.505 Real-time Quote.20.46%
FBD HOLDINGS PLC -0.51% 7.8 Real-time Quote.4.00%
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Analyst Recommendations on AVIVA PLC
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Financials
Sales 2021 40 644 M 55 548 M 55 548 M
Net income 2021 1 662 M 2 272 M 2 272 M
Net cash 2021 8 664 M 11 841 M 11 841 M
P/E ratio 2021 7,55x
Yield 2021 5,55%
Capitalization 15 499 M 21 186 M 21 182 M
EV / Sales 2021 0,17x
EV / Sales 2022 0,16x
Nbr of Employees 28 596
Free-Float 97,2%
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Aviva plc Technical Analysis Chart | AV. | GB0002162385 | MarketScreener
Technical analysis trends AVIVA PLC
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TrendsNeutralNeutralBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 400,00 GBX
Average target price 470,19 GBX
Spread / Average Target 17,5%
EPS Revisions
Managers and Directors
Amanda Blanc Chief Executive Officer & Executive Director
Jason Michael Windsor Chief Financial Officer & Director
Mark George Culmer Non-Executive Chairman
Nitinbhai Babubhai Maganbhai Amin Chief Operating Officer
Michael Mire Independent Non-Executive Director
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