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Britain's financial regulator on Thursday published a letter to issuers of listed irredeemable preference shares, urging them to ensure their investors have all information necessary to properly assess the risks and rewards attached to such shares. The Financial Conduct Authority (FCA) is reviewing certain fixed income shares, particularly those shares that are described as being perpetual, irredeemable or in some other way that suggests permanence, the 'Dear CEO' letter said. The letter follows a phase of instability in the pricing of preference shares, after insurer Aviva (AV.L) announced an intention to cancel certain irredeemable shares it had issued at, or close to, par value.
The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email email@example.com. LAZARD ASSET MANAGEMENT Lazard Asset Management LLC ...
Aviva Investors, the global asset management business of Aviva Plc, appointed Steven Blackie as head of global product strategy. Blackie, who was formerly the UK chief investment officer at Mercer, will ...
Investors who want to cash in on Aviva plc’s (LSE:AV.) upcoming dividend of £0.19 per share have only 5 days left to buy the shares before its ex-dividend date, 05Read More...
Britain's markets watchdog said it has asked insurer Aviva (AV.L) to explain the legal basis for statements about proposals to cancel high-yielding preference shares, following a slump in the shares. Aviva said this month it was considering cancelling the preference shares, which give holders fixed dividends that take priority over ordinary share dividends. Preference shares for Aviva (35PG.L) and its legacy business General Accident (GACC_p.L) have fallen by up to 30 percent since Aviva's initial announcement on March 8, as investors worried that the stock could be cancelled below its value.
Aviva Investors , which is a shareholder in both bid target GKN and its suitor Melrose Industries , has come out in support of the turnaround specialist's takeover of the British engineer. "We believe ...
Melrose Industries (MRON.L) increased its hostile offer for GKN (GKN.L) by around 10 percent to 8.1 billion pounds ($11.2 billion), trying to win over investors after the British engineering firm struck a rival deal of its own last week. GKN's board unanimously rejected the new bid on Monday saying it continued to fundamentally undervalue the company. As a result, GKN shareholders must choose between the bid and the engineer's own turnaround plan.
Aviva Investors, the global asset management business of Aviva Plc named Colby McVey as client solutions director, effective March 12. McVey, who would be based in Chicago, has previously worked with Northern ...
U.K. blue-chip stocks wobbled Thursday as investors sifted through a round of corporate updates while awaiting more details about potential U.S. tariffs on steel imports that analysts have said could stoke ...
Avoiding chaos in the insurance market due to Britain's European Union exit is a top Bank of England priority and making sure cross-border contracts continue to pay out after Brexit is a major concern, its deputy governor Sam Woods said. Woods said on Tuesday the BoE was putting a "huge premium" on the British government agreeing a transition or implementation period by the end of March before Brexit in 2019.
The price to sell its entire shareholding in the life insurance and pensions joint ventures represents 2.1 times Aviva's share of the IFRS net asset value and 22.5 times Aviva's share of earnings after tax of these businesses, it said. With the deal, Aviva's Solvency II capital surplus will go up by about 150 million pounds, it said. "Following the restructuring of the Spanish banking system, which started in 2010, and the subsequent consolidation among Aviva's banking partners, Aviva has taken steps to protect the value of its distribution agreements in Spain," the insurer said in a statement.
Feb 13 (Reuters) - AVIVA PLC: * AVIVA, HILLHOUSE CAPITAL GROUP AND TENCENT HOLDINGS COMPLETED TRANSACTION TO DEVELOP A DIGITAL INSURANCE JOINT VENTURE IN HONG KONG * JOINT VENTURE HAS BEEN APPROVED BY ...