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Aviva CEO Amanda Blanc says her company is keen to invest in the U.K. but there needs to be political stability and a government that it is interested in business and growth.
British insurer Aviva has completed a 1.5 billion pound ($1.96 billion) bulk annuity buy-in deal with Michelin Pension and Life Assurance Plan, adviser XPS said on Wednesday.
Aviva has had forecasts for this year trimmed by specialist financial broker KBW ahead of its third quarter update on 14 November. Due to higher-than-expected weather losses in Canada and lower yields, KBW has cut its 2024 operating profits target by 8% to £1.6 billion and its solvency ratio by 4 percentage points.
Zilch said Tuesday that it made an operating profit in July 2024, hitting profitability faster than other major consumer fintechs that have also managed to break even. The company also said it topped £100 million ($130 million) in annual revenue run rate, doubling from the run rate it reported last year.
British insurer Aviva said on Saturday its India unit is "actively engaging" with local authorities in connection with alleged tax evasion practices.
Aviva PLC (LSE:AV.) has been accused of using fake invoices and secretive cash payments to avoid Indian taxes and regulations capping commissions for sales agents.
An Indian tax agency has found that British insurer Aviva breached local regulations capping commissions to sales agents with a system of fake invoices and clandestine cash payments, according to a notice seen by Reuters.
Insurance giant Aviva plc delivered an earnings beat in its first-half results on Wednesday and City reactions have reflected this bumper result. Analysts at KBW upgraded their 2025 operating profit forecast by a full 10%, “about half from assuming structurally lower central costs and half from a more optimistic projection of UK life investment income, health results as well as non-life combined ratio”.
Aviva CEO Amanda Blanc says the insurance giant remains confident about growth opportunities in the U.K.
Aviva ticked the right boxes for the City today with its latest numbers applauded by a trio of analysts. Jefferies said operating profit of £875m was 5% ahead of consensus (£830m), largely driven by strong performance in UK GI and Retirement.