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Aviva PLC - Stock Quote AV.

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Morningstar's Aviva PLC Stock Analysis

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Aviva Reports Steady First-Quarter 2022; Shares Fairly Valued

Analyst Note

| Henry Heathfield, CFA |

Aviva reported steady results for first-quarter 2022 with some highs and lows but on balance a good result. In Aviva’s dominant life and savings unit, the value of new business increased 7%. This rise is almost wholly attributable to a higher allocation to illiquid assets backing Aviva’s annuities. Relatedly, the business also delivered an increase in the present value of new business premiums in this annuities and equity release line. That looks like a result of higher bulk-purchase annuity sales as market volumes started to rise. Aviva reiterated there is a healthy pipeline of BPA sales more heavily weighted toward the second half of 2022. Equity release also experienced higher sales during the first quarter, partially offset by lower individual annuity sales as retirement customers switched to this new form of income.

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Aviva PLC's Company Profile

Business Description

Aviva is a multiline insurer headquartered in the United Kingdom. It traces its roots back to the late 1700s with the establishment of the Hand-in-Hand Fire Office, a mutual insurer of loss from fire. This mutual, along with many other entities acquired and established over the years, was purchased by Commercial Union in 1905. In the late 1990s, Commercial Union and General Accident merged to form Commercial General Union, or CGU. A few years later CGU and Norwich Union merged and later rebranded as Aviva. Aviva acquired Friends Life in 2015. Aviva has been through quick successions of leadership in recent years. Mark Wilson served as CEO in the five years between 2013 and 2018. Maurice Tulloch then took over and Amanda Blanc been leader since July 2020.

St Helen's, 1 Undershaft
London, EC3P 3DQ, United Kingdom
T +44 2072832000
Sector Financial Services
Industry Insurance - Diversified
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Stock Type
Employees 22,000