Aviva H1 profits surge

(Sharecast News) - Insurance firm Aviva said on Wednesday that profits had surged in the six months ended 30 June on the back of an increase in written premiums throughout the period. Aviva said statutory profits were up 58% year-on-year at £654.0m, while operating profits improved 14% to £875.0m. It also declared an interim dividend of 11.9p, up 7% when compared to the same time as a year earlier.

General insurance written premiums increased 15% to £6.0bn, while insurance, wealth and retirement sales rallied 12% to £19.7bn.

Cash remittances were up 16% to £959.0m, while Aviva's Solvency II cover ratio slipped two percentage points to 205%.

Chief executive Amanda Blanc said: "We have achieved another six months of excellent trading. We have generated growth right across Aviva, thanks to our leading positions in attractive markets such as workplace pensions and general insurance in the UK and Canada.

"Aviva continues to benefit significantly from the balanced and diversified business we have built and lead."

As of 0915 BST, Aviva shares were down 0.63% at 485.50p.















Reporting by Iain Gilbert at Sharecast.com