|Bid||433.40 x 0|
|Ask||433.70 x 0|
|Day's Range||427.20 - 435.60|
|52 Week Range||3.87 - 442.30|
|Beta (3Y Monthly)||1.00|
|PE Ratio (TTM)||7.46|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||0.30 (7.02%)|
|1y Target Est||551.33|
(Bloomberg) -- A major U.K. institutional investor has dismissed a commonly-held fear of ESG investing -- that it hampers financial returns.Aviva UK Life, part of Aviva Plc, sees environmental, social and governance considerations as a central pillar of its risk and return analysis, the division’s chief investment officer said in an interview.Some investors worry excluding securities issued by profitable companies in industries such as tobacco, gambling, alcohol, oil and gas may erode returns. More than half of investors think they must sacrifice financial performance to invest responsibly, according to a recent survey by NN Investment Partners.But proponents of the approach argue they can deliver more robust returns because ESG analysis can give them a competitive edge, rather than serving solely as a means of blacklisting assets.“We’re past concerns that we’re compromising on returns by factoring in ESG,” said Ashish Dafria, Chief Investment Officer at Aviva UK Life. “It’s the right way to manage money going forward.”The division’s approach is part of a wider evolution in which fund managers are using ESG-related data-sets to better identify risks in their portfolios. Investors now see improving performance as the primary reason for including ESG in their strategies, according to research by RBC Global Asset Management.Technology is helping improve environmental and social analysis, said Dafria, which have both become a bigger focus for Aviva in the past two years. Examples include assessing flooding dangers across companies’ entire supply chains by using big-data analysis tools, which can also help interpret the potential damage of corporate scandals, he said.Aviva UK Life has started using ESG to shape asset allocation, even if “it is not yet systematic or quantitative enough” compared to other risk-return metrics, Dafria said. In the future it may allocate a fixed portion of its portfolio to assets that will help meet objectives set out in the Paris Agreement on limiting global temperature increases.It’s also considering how to offset the ESG risk inherent in one asset by effectively hedging it with another. For instance, it may seek renewable-energy exposure to offset investments in oil producers amid a shift away from fossil fuels.“We want to get to that point -- I think we have to, both from a risk management perspective and in view of the questions our investors are going to ask,” said Dafria. “ESG is front and center of nearly everyone’s mind.”To contact the reporter on this story: Alice Gledhill in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Vivianne Rodrigues at email@example.com, Chris VellacottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Bank of England warned on Tuesday it will crack down on insurers that are overly optimistic about how much capital they need to cover growing risks from the United States and elsewhere. Gareth Truran, acting director for insurance supervision at the Bank's Prudential Regulation Authority, said the risk of reserving "deficiencies" was increasing in a sector that may be "optimistic" about its outlook. "For Lloyd's managing agents, we will continue to work closely with Lloyd's, taking into account in particular the work of Lloyd's Performance Management Directorate in approving and monitoring syndicate business plans," Truran said.
Dividend paying stocks like Aviva plc (LON:AV.) tend to be popular with investors, and for good reason - some research...
Rating Action: Moody's assigns definitive rating to Italian CDQ ABS Notes issued by Marzio Finance S.r.l. Moody's has not assigned any rating to the EUR 41.3 M Series 7-2019 Class J Asset-Backed Notes due June 2044. The Notes are backed by a static pool of Italian Cessione del Quinto (CDQ) and Delegazione di Pagamento (DP) consumer loans originated by IBL Banca S.p.A. (NR).
The Financial Conduct Authority (FCA) said it will introduce a new category of funds investing in inherently illiquid assets, or FIIA, from September 2020, confirming proposals made last October. "The new rules and guidance are designed to protect the interests of investors, particularly during stressed market conditions," said Christopher Woolard, the FCA's executive director for strategy and competition. The funds will be subject to additional requirements, including standard risk warnings in financial promotions, enhanced depositary oversight, and a requirement to produce liquidity risk contingency plans, it said.
HONG KONG/SINGAPORE (Reuters) - German insurer Allianz, Nippon Life and MS&AD Insurance are vying with rivals to buy the Singapore and Vietnam businesses of Britain's Aviva in a deal likely to be worth up to $2.5 billion, sources said. Canada's Sun Life Financial and Manulife Financial Corp are also among roughly half a dozen suitors for the businesses, said the people with knowledge of the matter, who declined to be named as the talks are confidential.
Britain's second largest insurer Aviva reported a forecast-beating 1% rise in first-half operating profit on Thursday, helped by a strong performance in its general business and announced a review of its Asian operations. In his first interim results since being appointed chief executive in March, Maurice Tulloch confirmed he was rethinking the company's Asian businesses, the latest move to restructure after announcing a series of changes in June. "I am working with the board to refresh Aviva's strategy and we have decided to review the strategic options for our Asian businesses," he said, adding there were a range of possibilities under consideration.
HONG KONG/LONDON (Reuters) - British life and general insurer Aviva is looking to sell its Asia business, valuing the unit at more than $2 billion, two sources familiar with the matter told Reuters. Aviva is working with a financial adviser on a possible sale, with a formal process likely to begin in the fourth quarter, the sources said. There is no certainty of a sale, which will depend on the outcome of a review of the Asian business to be completed by the end of this quarter, the sources said.
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.
Paris. Once again, the company is partnering with a corporate backer -- insurance company Aviva France is backing Founders Factory Paris. Albin Serviant is heading the team in Paris; the plan is to hire 50 people.
Jul.23 -- Aviva Investors CIO, Peter Fitzgerald explains his strategy for investment during Brexit, while Boris Johnson is sworn in as new U.K. Prime Minister. He speaks with Caroline Hyde and Scarlet Fu on "Bloomberg Markets: The Close."