Aviva announces its 2021 interim results

Amanda-Blanc,-CEO,-Aviva-Group

Amanda Blanc, Aviva Group Chief Executive Officer, said:

“We have made good progress on all fronts in the 12 months since we launched our strategy.

We are delivering on our commitment to make a substantial capital return to our shareholders. We intend to return at least £4 billion to investors by the end of the first half of 2022, starting with a share buyback of up to £750 million.

We delivered strong cash remittances, of £1.1 billion in the first half and we are on track to achieve our objective of over £5 billion in cash remittances between 2021 and 2023. In light of our confidence in the strength of the business andbunderlying cash flows, the Board has declared a 5% increase in the interim dividend to 7.35 pence per share.

The breadth of Aviva, across life insurance and general insurance, is a key strategic advantage and has driven a 17% increase in operating profit to £725 million. We also delivered some of our best ever sales figures in the first six months. In UK general insurance we delivered our highest sales in a decade. In Savings & Retirement, net flows increased by 24% to a record £5.2 billion, and we’ve added 100,000 new workplace customers, reinforcing our number one position.

Alongside delivering growth, we continue to focus on reducing controllable costs which are down 2%. We are on track to deliver our £300 million savings target in 2022 and are focused on achieving top quartile efficiency in all our businesses.

While we’ve got more to do, our half year results show we have what it takes to drive growth in our businesses. We remain completely focused on transforming performance, capitalising on the breadth of Aviva, making insurance simple and easy for our customers, and creating value for our shareholders.”

CLICK HERE to download Aviva’s official interim results announcement

 

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About Aviva

Aviva Insurance Limited is one of the UK’s leading insurance companies, part of the Aviva group with 34 million customers Worldwide. Aviva Insurance has been in the insurance business for more than 300 years.

In UK commercial, the insurance market remains challenging for insurance brokers and customers, due to the ongoing economic conditions. Aviva Insurance are focusing on improving our processes to ensure Aviva provide commercial customers with insurance cover at an acceptable price. Insurance brokers also recognised our excellent customer service by voting us Insurance Times General Insurer of the Year in 2012, for the second year running. youTalk-insurance sharing Aviva insurance news and video.

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