Aviva’s (LON:AV) chairman Sir Adrian Montague faces the task of finding a new chief executive who can convince investors that the blue-chip insurer can grow, the Financial Times has reported. The blue-chip group is currently looking for a new boss after Mark Wilson agreed to step down last year.
Aviva’s share price has been little changed in today’s session, having inched 0.13 percent to 371.60p as of 10:39 GMT. The stock is marginally outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.49 percent lower at 6,701.12 points. The group’s shares have lots a little more than 26 percent of their value over the past year, as compared with a near 12-percent dip in the Footsie.
Aviva searching for new boss
The FT reported this week that Aviva’s chairman had the task of finding a new chief executive who could convince investors that the blue-chip insurer has something to offer them.
“The overriding perception among investors is that Aviva is a low or no growth company and I don’t think Mark Wilson did enough to dispel that,” Rob James at Merian Asset Management, told the newspaper. “There is a better story trying to escape from Aviva than the market is giving credit for.”
The FT reports that there are two internal candidates to replace Wilson – Andy Briggs, the head of Aviva’s UK business and Maurice Tulloch, the head of the international operations.
Analysts on blue-chip insurer
The 15 analysts offering 12-month price targets for Aviva for the FT have a median target of 540.00p, with a high estimate of 636.00p and a low estimate of 490.00p. As of December 29, 2018, the consensus forecast amongst 19 polled investment analysts covering the blue-chip insurer has it that the company will outperform the market.