May 18, 2022

Aviva chief Blanc says sexist investor comments could prompt wider AGM rethink

Aviva's chief executive said the outcry following sexist remarks made at the UK insurer's general meeting showed the episode had "Struck a chord with many people" and might prompt others to consider how they run their own AGMs. A social media post made by Amanda Blanc condemning the sexist remarks has been viewed more than 1mn times. Blanc, Aviva's first female chief executive and a government champion for Women in Finance, said there were too few women in senior positions in the financial services sector, and that putting in "Hard yards" was necessary to achieve change. In personal insurance, prices for new customers rose at the start of the year, but renewal prices fell by an average of 0-5 per cent in motor and by 5-13 per cent in home insurance as the business adjusted for reforms that stamped out so-called loyalty penalties for existing customers. Aviva has returned £4.75bn of capital to its shareholders after a string of disposals since Blanc joined the business in 2020. Aviva's share price was up 0.9 per cent in morning trading in London.

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