Thursday 24 May 2018

Profits at Aviva Ireland rise 13pc - in third year in a row of double digit percentage growth

(Stock photo)
(Stock photo)
Donal O'Donovan

Donal O'Donovan

Profits at the Irish arm of Aviva rose 13pc to €93m last year, the third year in a row of double digit percentage growth.

Aviva is one of the country’s biggest insurance providers, in particular in car, home and life insurance.

"For the third year in succession, Aviva Ireland is today reporting double digit, sustainable growth. Operating profit across our two businesses is up by 13pc to €93m," the company said.

The company is in the process of buying investment business Friends First.

Aviva said its general insurance business saw net written premiums increase 8pc to €498m last year.

The combined operating ratio, a measure of profitability in general insurance, improved slightly. In life insurance, the present value of new business premiums increased by 38pc to €1.2bn and operating profit increased by 19pc to €38m.

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