Activist investor Cevian Capital said on Tuesday it had built up a 4.95 per cent stake in Aviva and that the British insurer should be able to return £5 billion of excess capital in 2022. Aviva should have a value of more than £8 per share within three years, and more than double its dividend to 45 pence, Cevian said. Analysts have said the insurer would have between £3.7 and £6.6 billion of excess capital following the completion of the asset sales. “Aviva has made significant strategic progress over the past 11 months and we remain sharply focused on further improving our performance,” an Aviva spokesperson said in an emailed statement. “We regularly engage with investors and welcome any thoughts which move us towards our goal of delivering long term shareholder value”.

Source: The Irish Times June 08, 2021 07:45 UTC