|Bid||410.00 x 0|
|Ask||425.00 x 0|
|Day's Range||416.80 - 424.00|
|52 Week Range||361.80 - 504.60|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||11.11|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||0.30 (7.15%)|
|1y Target Est||551.33|
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Aviva Plc (Aviva) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
When it comes to trampling on legacies, Maurice Tulloch is up there with the best of ’em. Just weeks since replacing the ousted Mark Wilson, the pugilistic Canadian today ripped up one of his biggest innovations.
The UK’s biggest insurer Aviva on Thursday unveiled plans to break up UK management and cut hundreds of jobs under a radical plan to revive growth at the misfiring firm. New chief executive Maurice Tulloch will slash 1800 roles, around 6% of Aviva’s 30,000 workforce, via redundancies, axing contractors and freezing some new hires over the next three years. Tulloch, who replaced former chief executive Mark Wilson in March, has been under pressure to improve Aviva, which has seen its shares stumble 20% over the past five years.
The Bank of England said it was carefully monitoring falling capital levels at insurers that use their own computer models for calculating capital requirements. David Rule, executive director of insurance supervision at the Bank of England's Prudential Regulation Authority, also warned insurers that ending use of the tarnished Libor interest rate benchmark was a top priority.
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One of Britain’s top insurance bosses, Aviva’s UK chief Andy Briggs, is stepping down with a near-£3 million maximum pay package shortly after missing out on the top job at the company. Briggs, who joined Aviva in 2015 after the £5.6 billion takeover of Friends Life, lost out to Aviva chief Maurice Tulloch last month following a closely fought contest to replace Mark Wilson, prompting questions about his future. Chief risk officer Angela Darlington will take over from Briggs as caretaker manager while Tulloch reviews the structure of the UK business.
British insurer Aviva said on Wednesday that Andy Briggs, head of its UK insurance business, was stepping down from the company, just weeks after missing out on its top job to newly installed Chief Executive Maurice Tulloch. Briggs will remain with the insurer until Oct. 23 to support an orderly transition, Aviva said in a statement. The company said Briggs would be granted 'good leaver' status and therefore be eligible both for a pro-rated bonus in respect of the 2019 financial year and to retain awards applicable under its Long-Term Incentive Plan, due to vest in March 2020, March 2021 and March 2022.
Yasuhiro Furuse could have retired two years ago, but he wasn't entirely happy with his pension income and had to put any such thoughts to bed. It was just as well for Furuse's employer Orix Corp, a financial services group, which would have struggled to find a replacement, with Japan's jobless rate at 26-year lows. This win-win arrangement, increasingly common in Japan, highlights a structural and policy challenge facing the world's third-biggest economy.