Aviva backs down on plans to cancel preference shares

Following investor ‘criticism’

clock • 2 min read

Insurance giant Aviva is set to scrap plans to cancel £450m of high-yielding preference shares at par value, following "strong feedback and criticism" from investors.

Aviva announced its intention to cancel the preference shares on 8 March 2018, following legal advice owing to regulatory requirements, which mean preference shares will no longer count as regulatory capital in 2026. The firm said in a statement it will work towards obtaining approval for the preference shares "or a suitable substitute" to qualify as capital from 2026.   It said: "If, as we approach 2026, Aviva needs to reconsider this position, it will do so after taking into account the fair market value of the preference shares at that time." Aviva to take majority stake in robo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Decoding the conflicting investment advice of Warren Buffett

Decoding the conflicting investment advice of Warren Buffett

'He leaves us with a wealth of opinion and information about markets and investing'

Laith Khalaf
clock 09 December 2025 • 5 min read
Private assets in wealth management: The time for talking is over

Private assets in wealth management: The time for talking is over

'The first barrier to adoption is accessibility through existing infrastructure'

Russell Andrews
clock 08 December 2025 • 4 min read
China: Beyond trade tensions and tariffs

China: Beyond trade tensions and tariffs

'So what do you think about China?'

Gabriel Sacks
clock 05 December 2025 • 4 min read