Shareholder update - December 2019

Welcome to our shareholder update.

In this edition of our shareholder update, you can read about:

Chairman’s update

Dear shareholder,

Welcome to another of our regular updates. A lot has happened since I last wrote.

First, we have refreshed the way we articulate Aviva’s purpose. We have long had an extraordinary reason to exist, and although that has not changed significantly over the last 300 years, the time was right to update the way we talk about it. To that end, we asked thousands of our people and other stakeholders to tell us what meant most to them about what Aviva stands for. You can see the result in this short film: With you today, for a better tomorrow.

Building on our purpose, in November we also announced our new Group Strategy. This set out our vision to earn customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. The strategy clearly defined our priorities to make sure we continue to deliver for our customers and shareholders. You can find more detail on what we said below.

One thing that is not new is our ongoing commitment to the communities that we are part of and the world in which we all live. This quarter’s update has collected just some examples of our work to help ensure a sustainable future. It also has a report on the money we’ve contributed to the Aviva Foundation. I am particularly pleased that we have been able to support such good causes, reflecting Aviva’s values, by releasing dormant assets from the shareholder register.

Finally, I would like to welcome the new directors recently appointed to the Board. They will no doubt play an invaluable role in helping ensure we deliver on our new strategy. Details of these appointments are outlined below.

Thank you for your continued support.

Sir Adrian Montague - Chairman

Strategy update – news from Aviva plc Capital Markets Day 2019

On 20 November, we announced an update to our strategy – to make a stronger, simpler, better Aviva. We will focus on three strategic priorities:

  • deliver great customer outcomes
  • excel at the fundamentals
  • invest in sustainable growth.
“Aviva’s focus is delivering sustainable growing returns to shareholders. Our forecast cash flows are more than sufficient to sustain our dividend, reduce debt and grow Aviva. Our return on equity target of 12% underpins our progressive dividend for the long-term.”

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Strengthening our Board

In the last six months, we have had several changes on the Board.

George Culmer joined the Board on 25 September 2019, as Independent Non-Executive Director, joining the Audit, Risk and Nomination Committees. George brings significant board level experience with 15 years as a FTSE 100 Chief Financial Officer.

Jason Windsor was appointed Chief Financial Officer and Executive Director on 26 September 2019. Jason became Interim Chief Financial Officer in July 2019 and was previously Chief Financial Officer of Aviva UK Insurance.

On 3 December 2019, we announced the appointment of Amanda Blanc as Non-Executive Director, with effect from 2 January 2020. Amanda brings extensive knowledge and experience of the insurance industry.

Patrick Flynn replaced Glyn Barker as Chair of the Board Audit Committee with effect from 4 November 2019 and Amanda Blanc will replace Claudia Arney as Chair of the Governance Committee (subject to regulatory approval). Glyn Barker and Claudia Arney will retire from the Board with effect from 31 December 2019.

Find out more about our directors at Our Board

Protecting our future

Climate change is the biggest challenge of our time – read more below to see ways in which we are supporting sustainable business.

Contributing to a more sustainable world is at the heart of our purpose. We’re investing with sustainability in mind, are engaging with companies through active stewardship and have been lowering our footprint for some time now. We want to accelerate our efforts. It makes good business sense, and it matters to our customers, partners, and the communities we work in. We will continue to make positive changes and are therefore proud to join the Net-Zero Asset Owners Alliance.

The Aviva Foundation

By 2020, one in three workers will be over 50, and by 2030 half of all adults in the UK will be over 50. With an ageing population, and those not in work at risk of poverty in later life, older workers must be supported as a vital resource in our workforce.

The Aviva Foundation has helped fund “Accessing Experience”, the first employer-led national programme designed to help people aged 50+ in England find good work. The programme, run by Business in the Community, will provide training and support to individuals over the age of 50 looking to return to work, as well as training, work placements and job opportunities. The programme also works to promote the benefits of being an age-friendly employer, such as Aviva, among businesses.

This is only one example of what we’re creating. This year, the Aviva Foundation has granted £3.7m to support our communities and vulnerable customers, championing our purpose; supporting causes our shareholders, people, customers and communities can feel proud of.

2020 financial calendar

Visit our financial calendar to find dates for your diary including provisional dates for dividends, results and the next Annual General Meeting.

Stay in touch

We’ll share another shareholder update in April 2020. Register with Computershare to receive an alert when these updates are available.

If you have any feedback or suggestions for our shareholder update, please email

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