AVVIY Stock Recent News

Hong Kong business conglomerate CK Infrastructure Holdings is acquiring 32 UK onshore wind farms of Aviva plc's investment management subsidiary Aviva Investors, according to the South China Morning Post. The reported £350 million deal is expected to close in September and comprises wind farms across England, Scotland and Wales with 175 megawatts of installed capacity.

Aviva plc cut a healthy image in today's first-half financial report, with statutory profit surging 58% year on year and group operating profit increasing 14% to £875 million. General insurance written premiums increased 15% year on year to £6 billion while insurance, wealth and retirement sales increased 12% to £19.7 billion.

Heading towards half-year results next Wednesday, Aviva PLC (LSE:AV.) shares recently topped £5 for the first time in over six years, before being caught up in the wider market sell-off.

UK life insurers including Legal & General Group PLC (LSE:LGEN) and Aviva plc are facing heightened scrutiny from the Prudential Regulatory Authority over their use of funded reinsurance (Funded Re) deals. The PRA worries that the current growth in Funded Re transactions by UK life insurers could cause a build-up of risk in the sector which could ultimately affect policyholders.

Disinflation and political risk are the two key themes driving market movements, according to the latest quarterly update from Aviva Investors. "We expect the next 12 months to be somewhat of a tug-of-war for markets, as the disinflation process slows, while political risks rise," says Michael Grady, head of investment strategy and chief economist at the asset manager.

Aviva PLC (LSE:AV.) has confirmed it is one of the cornerstone backers of Rosebank Industries, the new investment vehicle of six former Melrose executives.

Aviva PLC (LSE:AV.) has received an upgrade from analysts at US bank Jefferies, which reckon the insurer is the best of the bunch currently.

TORONTO, July 03, 2024 (GLOBE NEWSWIRE) -- Aviva Canada today announced its intention for Aviva Direct, its direct-to-consumer business, to phase out its home and auto business in Alberta from early January 2025. Aviva Direct customers in Alberta will be receiving letters in the mail to inform them of the change.

Aviva PLC (LSE:AV.) shares lifted close to 1% after it announced it completed its £300 million buyback programme.

Fraudulent claims for injuries caused by motor accidents jumped by 39% last year, a new Saturday by insurer Aviva found. Almost two-thirds of detected fraud cases related to car accidents, said the FTSE 100 group, with motor claims alone totting up to £23 million.