10th August 2022

Aviva reports "excellent six months"-Amanda Blanc, Group CEO

Amanda Blanc, Aviva Group ceo comments "Sales are up, operating profit is higher, our financial position is stronger. This has been an excellent six months for Aviva.
Our scale and diversification give us resilience and opportunity, enabling Aviva to withstand the challenging economic climate. Our market leading positions and our unique ability to look after a wide range of customers' needs are clear advantages and have driven robust operating
performance. Trading has been encouraging across all our major businesses in insurance, wealth and retirement.
Even so, we are very conscious of the pressures currently facing many of our customers, especially the more vulnerable. In response we have launched new, low cost, insurance products, and we are increasing the range and amount of support we provide to communities, businesses
and our own people during this challenging time.
Delivering for our shareholders is at the core of our strategy. Our liquidity and capital position is extremely healthy and we are declaring an interim dividend of 10.3p, in line with our full year 2022 dividend guidance of c.31.0p. We are increasingly confident in Aviva's prospects and anticipate commencing additional returns of capital to shareholders with our 2022 full year results.”
Strong first half results demonstrating benefits of diversified business model
- Solvency II operating own funds generation up 46% to £538m (HY213: £369m)
-Operating profit up 14% to £829m (HY213 £725m)
-General insurance gross written premiums GWP) up 6% to £4,694m(HY213 : £4,366m) with a strong 94COR(HY213 : 91.6%)
-UK & Ireland Life sales up 4% to £16.8bn HY21: £16.2bn) with VNB up 13% to £300m(HY21: £265m)
-Cash remittances of £798m(HY213: £1,063m) in line with expectation and medium term target
-IFRS loss after tax of £633m(HY21: £198m loss), largely reflects adverse market movements, with no impact on capital or cash remittances‡
-Interim dividend per share of 10.3p(HY21: 7.35p), up 40%, in line with dividend guidance for 2022

Aviva Trends(1,085 articles)