Aviva plc (“Aviva”) today announces changes to the remuneration of Executive Directors and the Aviva Leadership Team.
In light of the significant uncertainties presented by COVID-19 and the need for continued prudence, the following changes to senior manager remuneration have been agreed:
- Executive Directors and the Aviva Leadership Team will not be considered for any bonus for 2020 until dividend payments are restarted for ordinary shareholders;
- Basic pay increases for Executive Directors and the Aviva Leadership Team, due to come into effect on 1st April 2020, will be paused until dividend payments are restarted for ordinary shareholders.
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Notes to editors:
- On 8th April 2020 Aviva announced that the Board of Directors agreed to withdraw its recommendation to pay the 2019 final dividend to ordinary shareholders in June 2020: https://www.aviva.com/newsroom/news-releases/2020/04/update-on-covid-19-and-2019-final-dividend/
- For information on how Aviva is helping our people, customers and communities impacted by COVID-19 visit: www.aviva.com/covid-19-our-response/
- Aviva is a leading international savings, retirement and insurance business. We exist to be with people when it really matters, throughout their lives – to help them make the most of life. We have been taking care of people for more than 320 years, in line with our purpose of being ‘with you today, for a better tomorrow’.
- Our vision is to earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. In 2019, we paid £33.2 billion in claims and benefits on behalf of our 33.4 million customers.
- We operate through five business divisions: Investments, Savings & Retirement; UK Life; General Insurance; Europe Life; and Asia Life; and focus on three strategic priorities: deliver great customer outcomes, excel at the fundamentals and invest in sustainable growth.
- Total group assets under management at Aviva group are £510 billion and our Solvency II capital surplus is £12.6 billion (FY19). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
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