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Aviva aims for clarity with its £8bn forecast
INSURANCE firm Aviva will tell investors today it expects to boost the amount of capital it generates by at least 30 per cent this year to £1.3bn.
The firm will also say its existing book will return £8bn in the next five years, in an effort to clarify its money-making potential to investors.
Aviva is said to be emphasising the statutory IFRS basis of its financial reports to make comparisons more straightforward.
“It is fair to say we will de-emphasise market consistent embedded value [measures]”, chief financial officer Pat Regan told the FT yesterday. The firm’s shares fell sharply after it moved to the measures in 2009.
The firm is set to announce the figures in an analyst finance update at 10.30am.