https://www.investegate.co.uk/aviva-plc ... 00012063J/No impact to Solvency II metrics, cash generation, dividend guidance, or anticipated capital returnsIFRS 17 is purely an accounting change and does not affect the underlying economics of our business, our strategy or the way in which we operate.
· Cash remittances, capital generation and approach to capital allocation are unchanged by IFRS 17.
· Solvency II remains the key basis under which we manage our business and is unaffected.
· There is no impact on our dividend guidance of c.£870m (c.31.0p) for 2022 and c.£915m (c.32.5p) for 2023, with low-to-mid single digit DPS growth thereafter.
· Our intention to return further capital to shareholders in 2023 is unchanged.
We remain on track to meet our Group financial targets which will be unchanged under IFRS 17· >£5.4 billion cash remittances over 2022-24.
· £1.5 billion Solvency II operating own funds generation p.a. by 2024.
· £750 million gross cost reduction over the period 2018-24.
Presentation slides and a recorded video are available
here , where further information is provided on the new accounting standard and how it applies to Aviva.
https://www.aviva.com/investors/publication-of-IFRS-17-presentation/