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Aviva extends share buyback to $1.3 billion

Published 16/12/2021, 07:23
Updated 16/12/2021, 07:37
© Reuters. FILE PHOTO: The Aviva logo sits outside the company head office in the city of London, Britain March 7, 2019. REUTERS/Simon Dawson/File Photo

LONDON (Reuters) - Aviva plc (LON:AV) said on Thursday it will increase its share buyback programme from 750 million pounds ($994.28 million) to a maximum of 1 billion pounds ($1.33 billion).

"We are increasing our share buyback as part of ourcommitment to return at least 4 billion pounds to ordinary shareholders," group chief executive Amanda Blanc said in a statement.

Aviva has been under pressure from activist investor Cevian to increase its shareholder payouts, saying the insurer should return 5 billion pounds to investors by the end of 2022 after selling a string of its international businesses.

($1 = 0.7543 pounds)

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