Aug 6, 2020
Aviva: Blanc canvass
Amanda Blanc, new chief executive of Aviva, is wooing the City with a single word - "Focus". All the former Axa executive has to do is sell a few of these to pop the value to Aviva shareholders - supposedly. Citi reckons the components, glommed together over decades when acquisitions were seen as cooler than disposals, are worth 50 per cent more than Aviva's £11bn market capitalisation. Panmure's Barrie Cornes reckons proof of progress towards Ms Blanc's slimmed-down Aviva is worth £1 on the share price of about £3. If Aviva then bought RSA - or as much of the rival general insurer as regulators allowed - the group would have scale as well as focus.
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