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Aviva chief executive Andrew Moss today forecast a return to profit at the insurer as he faced the City for the first time since details of an affair with a colleague emerged.
Moss, who has left his wife of 25 years, said the relationship with married human affairs director Deirdre Moffat was “a private matter” and did not affect his ability to do the job.
He said: “As far as shareholders are concerned, they are focused on the business and the outlook for profitability which is good.”
Aviva shares rose more than 5%, or 20p, to 399.3p. Chairman Lord Sharman publicly backed Moss after the affair hit the headlines last month. Moss and Moffat, who has since left Aviva, now live together.
The firm said life and pensions sales dropped 11% in the first nine months of the year after a weak performance in the UK, where sales crashed 25%.
Worldwide sales fell to £24.06 billion, broadly in line with analysts' forecasts, and Moss said the outlook for profitability remained good following last year's loss. Moss said: “There has been a step down in demand for savings products over the course of this year but that is not surprising given the recession.”
He said the change of name in the UK from Norwich Union to Aviva had gone “brilliantly”, helped by high-profile advertising campaigns featuring stars such as Bruce Willis and Ringo Starr.
“The awareness now of the Aviva name is well above where Norwich Union was,” he said.
Reader views (1)
Where do I start about this company.My husband has a pension with this bunch and what a bunch they are.I have been investigating his pension for 1 year.I have found numerous mistakes from incorrect valuation,market value reduction taken without my husband's knowledge,incorrect fund and plan from 1999 yes 1999.Finally an operations manager had promised to recalculate my husband's pension using a 0.625% charge as opposed to 1% and he came up with a figure of approx £8700 which he promised to add in the form of extra units to my husband's pension.I have a copy of email from this man.I have had a final response from this company signed by a senior customer relations manager who said there was no such offer.I have never dealt with such an incompetent and sinister company in all my life.
- Lesley, Northumberland, 04/11/2009 19:11
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