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UBS has maintained a 'Sell' rating for Zurich, setting a target price of 535 Swiss francs. Analyst Will Hardcastle favors life insurers over non-life insurers in the European sector, highlighting Prudential, Aviva, AXA, Swiss Re, and Beazley as preferred stocks.
IG Group has granted conditional awards to CFO Clifford Abrahams, effective from January 24, 2025, as part of his compensation for forfeited incentives from Virgin Money UK plc. These buy-out awards, approved by the Remuneration Committee, will vest with his continued service and are not tied to performance conditions. Abrahams, who joined IG Group in December 2024, has an extensive background in finance, including roles at ABN AMRO Bank and Delta Lloyd Group, and holds an MBA from Wharton and an MA in Economics from Cambridge.
UBS has raised its price target for Aviva from 590 to 675 pence, maintaining a 'buy' recommendation. This new target suggests a potential 37% increase in the share price, with the broker highlighting Aviva as a top choice in life insurance due to an attractive return on capital of around 40% over the next three years. The benefits from the Direct Line acquisition have yet to be reflected in the share price.
UBS has raised the price target for Aviva, as reported by Cercle Finance and published by BOURSORAMA. The analysis is provided for informational purposes only, with BOURSORAMA disclaiming any responsibility for its content and ensuring no conflicts of interest affect the objectivity of the analysis.
UBS has raised its price target for Aviva Plc to GBP6.75, citing a potential earnings boost from the acquisition of Direct Line, which could increase earnings per share by over 12%. The deal is expected to enhance Aviva's focus on capital-light business lines and yield significant cost synergies exceeding GBP200 million. Despite a projected 9 percentage point negative impact on solvency, the overall financial outlook remains positive, with an anticipated internal rate of return of around 16%.
US stocks reached all-time highs following positive jobs data, with the S&P 500 on track for its best annual return since 2019. The labor market remains stable, supporting expectations for a Federal Reserve rate cut in December, while inflation data next week will be crucial for future policy decisions. Corporate highlights include Lululemon's significant stock gain, DocuSign's revenue forecast boost, and Victoria's Secret raising its outlook after strong sales.
Aviva CEO Amanda Blanc is poised to execute a £3.6 billion ($4.6 billion) takeover of Direct Line Insurance Group Plc, marking her largest acquisition to date. This move is a significant milestone in her four-year effort to transform Aviva, overcoming challenges from activist shareholders and sexism in the industry. If successful, the deal will also bring a rival company led by one of her former colleagues under Aviva's umbrella.
Aviva Plc is close to a preliminary agreement to acquire Direct Line Insurance Group Plc, following a series of takeover attempts this year. The latest bid has been increased to 261 pence per share, valuing Direct Line at £3.4 billion ($4.4 billion), with a potential recommendation from Direct Line expected soon.
Aviva Plc has raised its takeover bid for Direct Line Insurance Group Plc to approximately £3.4 billion, or $4.4 billion, following the rejection of its initial offer. The new proposal stands at about 261 pence per share, reflecting a 4% increase from the previous bid of 250 pence per share.
[Bloomberg]
Aviva plc
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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