Aviva

Ticker AV.

Today's data summary

Market closed
% change
-0.53%
Price Pence
393.60
Change
-2.10
As of 19:22 21 Oct 2021
Market cap. Pound sterling
15,152.78 million
As of 19:22 21 Oct 2021

Latest updates

  1. Storm Ciara causes huge increase in insurance claims

    Ethan Connolly-Forster

    BBC News

    The insurance company Aviva has seen a 285% increase in calls and claims since Storm Ciara.

    The company said the majority of claims are coming from the particularly badly affected areas like Nottingham, Birmingham, Norwich, Sheffield and Bradford.

    Claims have included property damage - as shown below in Leicester - as well as flooding.

    UK claims director Andrew Morrish said: "We are monitoring the situation closely, particularly where there are flood warnings in place."

    The Association of British Insurers (ABI) added customers should claim as soon as possible.

    House in Leicester
  2. Storm Ciara caused 285% increase in claims

    The Conwy Valley town of Llanrwst felt the full force of Storm Ciara
    Image caption: The Conwy Valley town of Llanrwst felt the full force of Storm Ciara

    Insurer Aviva has published some numbers around the effects of last weekend's weather chaos.

    It said there's been a 285% increase in telephone calls and claims, which is not terribly surprising.

    The worst affected areas, it reckons, are Nottingham, Birmingham, Norwich, Sheffield and Bradford.

    “The majority of claims have been from people whose properties have been affected by strong winds, such as loose roof tiles, broken windows and fallen trees, but we are also starting to see flood claims," reported Andrew Morrish, UK claims director for Aviva,

    He advises people to take precautions to protect their properties and vehicles ahead of Storm Dennis, which is forecast for later in the week (see below).

    Storm Dennis is set to bring very strong winds, rain and potential disruption on Saturday
    Image caption: Storm Dennis is set to bring very strong winds, rain and potential disruption on Saturday
  3. Aviva takes the Michael

    Michael Fassbender
    Image caption: Was Aviva thinking of Michael Fassbender?

    Several thousand Aviva customers have received an apology after the insurer mistakenly called them all Michael.

    The company, which has millions of customers, blamed a "temporary technical error" for the incorrect emails.

    Michael Caine
    Image caption: Or Michael Caine?

    It stressed that the wrong name in the email greeting was the only mistake and no personal details had been compromised.

    One accidental Michael, a life insurance customer whose real name is Andrew, said he was worried that the mistake may have signalled other errors.

    Michael Gove
    Image caption: Or perhaps Michael Gove?

    "The irony is I hadn't noticed the original 'Michael' email, it was this follow up that caught my eye," he said.

    "Getting a first name wrong is one thing, but what if it was my data - my address or policy information - being sent to someone else instead?"

  4. Aviva chairman to step down

    Aviva sign

    Aviva chairman Sir Adrian Montague will leave the company as soon as the insurer finds a replacement.

    Aviva's new chief executive Maurice Tulloch has outlined a plan which would bring major changes to the insurer, pledging to run the business better.

    "Now that Maurice has launched Aviva's strategy, a new senior management team is in place and the board has been refreshed, it is also time for a new chairman," Sir Adrian said.

    He remains as chairman of the Manchester Airports Group and Cadent Gas.

  5. Aviva to sell its stake in Hong Kong joint venture

    Aviva logo

    Insurer Aviva is to sell its stake in its Hong Kong joint venture, Blue, to its partner Hillhouse Capital.

    It is also considering the future of its businesses in Vietnam and Indonesia.

    But it says it is retaining its businesses in Singapore and China "which support our strategy of meeting customers' saving and insurance needs. These are profitable businesses, delivering attractive growth and generating positive cash-flow".

    It comes as the firm announces a restructuring of its business into five divisions: Investments, Savings & Retirement; UK Life; General Insurance; Europe Life; and Asia Life.

  6. Aviva to retain Singapore and China businesses

    Aviva logo

    Insurance giant Aviva has said it is hanging on to its businesses in Singapore and China, amid speculation that the Singapore operations could be sold.

    In a statement, Aviva said that a "thorough review" had "concluded that the best value for shareholders will be achieved by retaining the [Singapore] business".

    It added that both the Singapore and China business units "delivered double digit operating profit growth in 2018 and are earning attractive returns".

    However, the company said that it was "continuing to explore strategic options for its operations in Hong Kong, Vietnam and Indonesia".

    Shares in Aviva fell 3.5% following the announcement, making them the biggest faller in the FTSE 100 index.

  7. 'Disbelief' over Aviva job cuts

    Quote Message: The Aviva workforce in the UK will be shocked by the news that their employer plans to shed 1,800 roles globally over the course of the coming three years. The scale of this role reduction will be met with disbelief across the company. Unite have arranged urgent discussions with Aviva management in order to ascertain the rationale for cutting an already extremely stretched workforce. Unite has made it clear to management that the union will strongly challenge any attempt to make compulsory redundancies. from Andy Case Unite Aviva officer
    Andy CaseUnite Aviva officer
  8. Aviva: 'Tough decision' to cut jobs

    Aviva office

    Aviva says the cost-cutting exercise that will lead to 1,800 job cuts is "essential" to remain competitive.

    "This means tough decisions and job losses which I do not take lightly," he said "We will do all we can to minimise redundancies and support our people through this," said the insurer's chief executive Maurice Tulloch

    The firm plans to split its life and general insurance businesses, which it says will improve accountability.

    "Aviva will look to ensure that redundancies are kept to a minimum wherever possible, for example through natural turnover," the firm said.

  9. Aviva to cut 1,800 jobs

    Aviva logo

    Aviva has unveiled plans to cut 1,800 jobs as it tries to slash spending by £300m a year by 2022.

    The insurer, which plans to split its life and general insurance businesses, employs 30,000 people.

    Chief executive Maurice Tulloch, said the move was a "first step" in a plan to simplify the business and make it "more competitive and more commercial".

    "I am also determined to crack Aviva's complexity, an issue which has held back our performance for too long."

  10. Board changes at Aviva

    Insurance company Aviva says Tom Stoddard will step down as chief financial officer and as a director of Aviva from 30 June 2019. He will remain with the Group until 31 December "to support an orderly transition".

    Jason Windsor, currently chief financial officer of Aviva UK Insurance, becomes interim chief financial officer on 1 July 2019.

    Maurice Tulloch, Aviva's chief executive, said: "Tom is a tremendous leader and has played a major role in delivering Aviva's financial turnaround, significantly strengthening the group's capital position. After five successful years at Aviva, he leaves with my best wishes and those of Aviva's board."

    Mr Stoddard said "now time for me to clear the way for others to step up, as I consider new opportunities".