Aviva reports rise in profits

The insurer said operating profit grew 11 per cent to £1.46bn in the first six months of the year.

Aviva’s general insurance and health profits increased 25 per cent to £417m, aided by the acquisition of RBC Insurance in Canada last year, as well as foreign exchange benefits.

Life insurance operating profit grew 8 per cent to £1.3bn after it saw double-digit growth in long-term savings, protection and annuities and equity release.

As a result, Aviva is increasing its interim dividend by 13 per cent to 8.4p.

Boss Mark Wilson said the firm is “getting the basics right”.

He added: “Aviva is delivering. For the fourth year in a row we have grown operating profit, up 11%, reflecting positive performances across Aviva’s businesses worldwide.

“We are growing and investing in the UK. We have grown top-line sales and bottom-line profit in UK general insurance, pensions, annuities and protection. Our digital business continues to make progress, making insurance simpler and more convenient for customers.”

Net written premiums in the general insurance business lifted by 11 per cent to £4.68bn, while the value of new business rose 27 per cent to £596m.