AVVIY Stock Recent News

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.

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.