Under the latter the net result reached 2

It seems far time where Aviva launched an offer 17 billion pounds on Prudential, in the idea of creating a British champion with relay of growth in Asia... It was just four years ago. Today, while Prudential attempts a "bold" move, according to the term of Aviva, to get their hands on AIG Asian operations for $ 35.5 billion, its eternal rival is in phase with its strategy. In clear, focus on organic growth and on the Europe - where the potential for growth in savings in the five years is considered more important than in Asia and North America - and avoid engaging in a competing for acquisitions in emerging countries. For memory, Aviva committed end of 2007 in a strategic plan (baptized "one Aviva, twice the Value"), which should allow to unify a group built in large part to beatings of external growth and to increase the profitability of existing entities, all with the aim of doubling the results and the value of the group by 2012.

Important steps

In this regard, the number two British insurance considers having spent a number of important steps last year, between the deployment of the mark Aviva in Ireland and United Kingdom, the introduction on the stock exchange of the Dutch subsidiary Delta Lloyd, whose Aviva retains 58 (a product of 500 million) and the sale of Australian life activity (400 million), or even the achievement of 500 million pounds savings (19 less staff over two years), a year ahead on the plan. Especially, after the announcement of record loss in 2008 on a background of heavy write-downs of assets and the tensions last year around the solvency, Aviva can boast "a rapid return to a strong financial performance", summarizes Jean-Pierre Menanteau, CEO of Aviva France. In IFRS standards with 1.3 billion pounds of net (against 855 million loss in 2008), as in standards MCEV ("market consistent embedded value"), intended to capture the value future life insurance portfolios, but much more volatile. Under the latter, the net result reached 2.9 billion, against a huge loss of 7.7 billion last year.

If accounts returned in the Green, is in good part thanks to the recovery of the stock markets, but the Group also sees the effect "of a rigorous management and cost control." Another good point, the amount of capital has more than doubled in one year, from 2 to 4.5 billion pounds. The title retreated despite 2.61 yesterday to 380 pence, sign that the market chose instead which was unsatisfactory. As the other major European insurers, Aviva displays a slight erosion of its operational performance (-12 in IFRS, to 2.02 billion pounds), the relief of life not offsetting the erosion of loss experience in damages (99 of combined ratio), because of the storms and the activation of guarantees unemployment insurance borrower in the United Kingdom. But the most significant is probably declining 27 of the dividend to 24 pence per share. A decision which may seem even more surprising that the Group had chosen to maintain year last despite a record loss.

Aviva said that the decline of the dividend is "consistent with the policy announced this summer", and it remains one of the groups offering "a performance among the highest of the Futsee 100".