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    AV.   GB0002162385

AVIVA PLC

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Record profit lifts Aviva shares, pays out on coronavirus claims

03/05/2020 | 04:06am EDT
A pedestrians walks past the Aviva logo outside the company head office in the city of London

Aviva shares jumped on Thursday as the life and general insurer posted a record profit in its first year under chief executive Maurice Tulloch, although he said coronavirus added uncertainty to the outlook.

The insurer has received around 500 travel insurance claims related to the coronavirus so far and paid out around 500,000 pounds ($644,750), its executives said.

Tulloch said the coronavirus epidemic "presents a new uncertainty in 2020".

The Aviva insider took over a year ago and has shied away from radical change to the business, which offers life and general insurance and has operations in Europe, Canada and Asia as well as Britain.

Operating profit rose 6% to 3.2 billion pounds ($4.12 billion), slightly above forecasts, on strong performance across the board, though profits in the UK life business dipped.

"There is still much to do," Tulloch told a media call.

"We will improve business performance further...with discipline on expenses and underwriting."

KBW analysts said the results were "positive", reiterating their market perform rating on the stock. Aviva's shares rose 4.3% to 365 pence per share at 0845 GMT, at the top of the FTSE 100.

Chief financial officer Jason Windsor told the call the insurer's investments did not have a large exposure to equity markets, which suffered a correction last week.

The company said it would pay a dividend of 30.9 pence per share, up 3% and in line with forecasts.

By Carolyn Cohn


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AVIVA PLC 0.56% 392.7 Delayed Quote.20.76%
CHANGE INC. -2.73% 2422 End-of-day quote.-31.29%
FTSE 100 0.26% 7123.86 Delayed Quote.9.99%
JASON CO., LTD. 0.37% 536 End-of-day quote.-19.76%
MSCI UNITED KINGDOM (STRD) 0.34% 1163.195 Real-time Quote.11.96%
S&P UNITED KINGDOM (PDS) 0.22% 1420.1 Delayed Quote.10.64%
All news about AVIVA PLC
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07/23AVIVA : Exane BNP Downgrades Aviva To Underperform
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07/23Consumer staples, miners lift London's FTSE 100; Vodafone surges
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07/22AVIVA : announces ú900m bulk annuity deal with Kingfisher Pension Scheme
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07/21AVIVA : Natural disaster H1 insured losses hit 10-year high-Aon
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07/21Irish insurance regulator urges reform of renewal rules
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07/21AVIVA : Morgan Stanley Lowers Aviva to Equalweight from Overweight
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07/21AVIVA : Seven steps to help protect UK homes, businesses and communities from cl..
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More news
Financials
Sales 2021 46 772 M 64 973 M 64 973 M
Net income 2021 2 245 M 3 118 M 3 118 M
Net cash 2021 8 664 M 12 036 M 12 036 M
P/E ratio 2021 6,99x
Yield 2021 5,59%
Capitalization 15 425 M 21 443 M 21 427 M
EV / Sales 2021 0,14x
EV / Sales 2022 0,15x
Nbr of Employees 28 596
Free-Float 97,1%
Chart AVIVA PLC
Duration : Period :
Aviva plc Technical Analysis Chart | AV. | GB0002162385 | MarketScreener
Technical analysis trends AVIVA PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 392,70 GBX
Average target price 464,14 GBX
Spread / Average Target 18,2%
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
Sector and Competitors
1st jan.Capi. (M$)
AVIVA PLC20.76%21 297
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PRUDENTIAL FINANCIAL, INC.30.86%40 251
AFLAC INCORPORATED25.03%37 293