Last 495.70 GBp
Change Today +0.90 / 0.18%
Volume 135.5K
AV/ On Other Exchanges
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As of 3:23 AM 12/29/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

St. Helen's

1 Undershaft

London, EC3P 3DQ

United Kingdom

Phone: 44 20 7283 2000

Fax:

h DBS Bank and also owns a majority interest in PIAS, a leading financial advisory firm in Singapore. In China, its products are sold mainly through telemarketing, bancassurance and agents. In Indonesia, group business is sold through its direct sales force. In Vietnam, bancassurance is the main distribution channel. Aviva Investors The company’s major clients are the long-term insurance, savings, and general insurance businesses of the company, to whom it provide bespoke asset management services across a spectrum of asset classes. Its principal target clients for the larger segregated solutions tend to be large pension funds and financial institutions, such as insurance companies and banks. Products and Distribution: The company’s products cover a range of asset classes. In Europe, it has a range of open-ended collective investment schemes, which are domiciled in France, Luxembourg and Poland. Its traditional distribution model for these funds focuses on wholesale distributors, asset allocators and small to mid-size institutional investors. In the U.K., the company sells segregated mandates and specialist funds to pension schemes, local authorities and insurance companies. It also supplies products to the retail and wholesale markets, principally through UK domiciled equity, bond and real estate funds. These are promoted to investors through IFAs, fund platforms, fund supermarkets and discretionary asset managers. In addition, it has a range of pooled pension funds, which are aimed at the smaller pension fund market. In the U.S., the company also has an asset management company called River Road Asset Management LLC, based in Louisville, Kentucky, which provides a value investing approach to equity portfolios. It also has a range of specialist property funds. These funds are targeted at specialist real estate buyers and large institutions (mostly pension funds and local authorities), and provide real estate solutions to a range of risk appetites, ranging from secure income generating funds to leveraged growth funds. The company has six money market funds, domiciled in Ireland and France, addressing the sterling and euro money market segments. These funds are sold by a specialist sales team and target corporate treasury functions. Dispositions In 2013, the company completed the sale of the internal asset management operations of Aviva Investors North America, as part of the sale of its United States life business. Significant Events In April 2014, Banca and an extended distribution agreement with UBI Banca, delivering improved value of new business - Restructuring of UniCredit joint venture, decoupling from UBI Banca, and a new distribution agreement with UniCredit focused on a selected product range Aviva plc (Aviva) announces that it has reached agreements with UBI Banca S.c.p.a. (UBI Banca) and UniCredit S.p.A. (UniCredit) to restructure its life joint ventures in Italy. Aviva's current structure in Italy is complex. Aviva has two joint ventures with UBI Banca: one owned 50% by Aviva, and one owned 50% by Aviva S.p.A., itself a joint venture between UniCredit and Aviva. In April 2014, Aviva has announced that it has reached agreements with UBI Banca and UniCredit to restructure its life joint ventures in Italy. The company’s structure in Italy is complex. Aviva has two joint ventures with UBI Banca: one owned 50% by Aviva, and one owned 50% by Aviva S.p.A., itself a joint venture between UniCredit and Aviva. In addition, Aviva S.p.A. owns minority equity investments in three of UBI Banca's subsidiary banks. The transaction is a significant simplification of Aviva's life business in Italy. History The company was formerly known as CGNU plc and changed its name to Aviva plc in 2002.

 

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Industry Analysis

AV/

Industry Average

Valuation AV/ Industry Range
Price/Earnings 12.4x
Price/Sales 0.4x
Price/Book 1.3x
Price/Cash Flow 6.4x
TEV/Sales 0.4x
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