Aviva has reported a first-half operating profit of £715m, an 8% increase in comparison with the first six months of 2022.
Operating earnings per share during the period that ended 30 June 2023 increased 10% to 19.9p from last year’s 18.1p.
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Aviva operates in the UK, Ireland and Canada and has international investments in India, China, and Singapore.
The insurance provider attributed the growth in earnings to the strong performance across its general and health insurance operations.
It expects the full-year 2023 group operating profit to grow between 5% to 7% from £1.35bn in 2022.
General Insurance gross written premiums (GWP) across the UK, Canada and Ireland were £5.27bn, an increase of 12% year-on-year (YoY).
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By GlobalDataOperating profits in the segment jumped 29% to £470m.
Annual premium equivalent (APE) across the protection and health segment increased by 23% to £223m from £181m a year ago, driven by higher sales in health and individual protection plans.
Specifically, in individual protection, Avia experienced sales growth of more than 20% and health insurance premiums increased by 58% due to strains on public health services.
Aviva announced an 8% increase in interim dividend per share during the period under review to 11.1p from 10.3p YoY.
Aviva CEO Amanda Blanc said: “In the first half of 2023 we grew sales, operating profit and dividends for our shareholders. We expect to make further strong progress with our clear strategy, growth opportunities in all of our markets, and the £1bn investment well underway to accelerate our future performance.”
