Aviva profits up for fourth year in a row

Operating profit meets expectations, climbing 11 per cent to hit £1.46bn
Positive outlook as value of new business rises 27 per cent to £596 million

Insurer Aviva has boosted its first half dividend by 13 per cent to 8.4p per share after it booked a profit jump thanks to it’s general insurance business.

Operating profit hit £1.46bn, an 11 per cent increase in line with expectations. General insurance earnings were up by a quarter to £417m.

Higher and higher: The insurer has delivered strong results for investors.

Chief executive Mark Wilson said: ‘For the fourth year in a row we have grown operating profit, up 11 per cent, reflecting positive performances across Aviva’s businesses world-wide.’

‘The benefits of our geographic and product diversity are clear and Aviva has numerous sources of growth. In the first half of 2017 we increased sales right across the group and delivered strong growth in operating profit in the UK, Europe and Aviva Investors.’

Net written premiums in the general insurance business rose by 11 per cent to £4.68 billion. The value of new business rose 27 per cent to £596 million.

Of late the company has been selling businesses it considers to be underperforming.

Earlier this year the insurance giant sold loss-making Friends Provident to International Financial Group for £340million.

‘Aviva is getting leaner and stronger and we are confident in our ability to sustain growth in the coming years,’ Wilson added