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Group in 'strong position'

Aviva lifted by strong UK insurance business

AvivaInsurance company Aviva posted a 13% rise in half-year profits and has lifted its dividend by 10% after a strong display in its UK life business.

In the six months to 30 June,  operating profits rose to £1.33 billion ahead of expectations for a £1.31bn figure.

It said much of this was because of a 7% rise in the value of new business at its life insurance unit. Assets under management rose 23% year-on-year to £10.3bn. It has raised its dividend to 7.42p per share.

Chief executive Mark Wilson said: “Our UK businesses delivered encouraging results. We are growing in the UK, we are investing in the UK. We like the UK.

“Aviva’s strong financial position and diversity mean we are well insulated from external events. We have deliberately designed Aviva to be resilient to a low interest rate environment.

“We remain confident in our ability to deliver on our key commitments to grow earnings, cash and dividends.”

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