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Saturday 20 September 2014

Aviva posts 4 per cent rise in operating profit

Published 07/08/2014 | 09:04

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Insurance giant Aviva
Insurance giant Aviva

Aviva posted a 4 per cent rise in first-half operating profit as its European and UK general insurance businesses built on a strong start to the year, making up for weakness in Canada.

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Aviva, which provides personal lines of insurance including motor, home, travel and life cover, said it had laid out a new set of targets to achieve an operating expense ratio of below 50 percent and double its annual excess holding company cash flow to £800m (€1bn).

Operating profit increased to £1.05bn (€1.32bn) in the six months ended June 30 from 1.01bn (€1.27bn) last year.

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