Aviva reports better profits
Insurance giant Aviva has reported forecast-beating half-year operating profits, boosted by higher premiums in general insurance and the integration of recent purchase Friends Life.
The company reported operating profits of £1.17bn, up from 1.07 billion last year.
Aviva, which employs 2,000 people in York and 1,300 in Sheffield, said its underlying growth and the contribution from Friends Life, which it bought in April, more than offset the impact of adverse currency moves and disposals.
The value of new business over the period rose 25 per cent to £534m, up from £444m last year, while the UK life business saw new business rise 43 per cent.