Aviva plc (LSE:AV.) announces a share buyback program. Under the program, the company has entered into a non-discretionary agreement with Citigroup Global Markets Limited to repurchase up to 280,000,000 shares, for a total of £300 million. The purpose of the program is to reduce share capital of the company.
The repurchased shares will be cancelled. The repurchase program will run through August 6, 2026.
Aviva plc is a United Kingdom-based insurance, wealth, and retirement business company. Its segments include UK & Ireland Insurance, General Insurance, and Aviva Investors, International investments, and Other Operations. The principal activities of UK and Ireland Life operations are life insurance, long-term health and accident insurance, savings, pensions and annuity business. The principal activities of UK & Ireland General Insurance operations are the provision of insurance cover to individuals and businesses for risks associated with motor vehicles, property and liability, and medical expenses. The principal activity of Canada General Insurance operation is the provision of personal and commercial lines insurance products, for risks associated with motor, property and liability distributed through insurance brokers. It also operates Lloyd's platform, encompassing its Corporate Member, Managing Agent, international distribution entities and tenancy rights to Syndicate 1492.
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