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Aviva Management Discusses H1 2012 Results - Earnings Call Transcript

Aviva (AV)

H1 2012 Earnings Call

August 09, 2012 4:30 am ET

Executives

John McFarlane - Chairman

Patrick C. Regan - Chief Financial Officer, Finance Director, Director and Chairman of Disclosure Committee

Trevor John Matthews - Executive Director of Developed Markets, Executive Director and Chief Executive Officer of Aviva UK

Analysts

Nick Holmes - Nomura Securities Co. Ltd., Research Division

Ashik Musaddi - JP Morgan Chase & Co, Research Division

Oliver Steel - Deutsche Bank AG, Research Division

James Pearce - UBS Investment Bank, Research Division

Andrew Broadfield - Barclays Capital, Research Division

Gordon Aitken - RBC Capital Markets, LLC, Research Division

Barrie Cornes - Panmure Gordon & Co. plc, Research Division

Andrew Crean - Autonomous Research LLP

Colin L. Simpson - Goldman Sachs Group Inc., Research Division

Jon Hocking - Morgan Stanley, Research Division

Marcus Barnard - Oriel Securities Ltd., Research Division

Presentation

John McFarlane

Good morning, everyone. Now it's just 1 month since I last spoke to you about the plans through to 2014. And as you'd expect, well, there's been a lot of activity inside the company in that period. The consequences of that are going to find their way into announcements not today, but over the coming months.

So first, let me deal with the interim result. Operating performance was largely in line with expectations. Of course, the main new news was the write-down of the goodwill in the U.S., following a review of its recoverability.

As I also said last month, there was a desire to hold the dividend, and that's what we've done in the half.

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