Aviva publishes 2022 financial results
- Strong 2022 results, operating momentum continues
- Announcing share buyback of £300m. Total capital return over £5bn since 2021
- On track to meet or exceed Group targets, outlook remains positive
Amanda Blanc, Group Chief Executive Officer, said:
“We are making excellent progress at Aviva. Operating profits and dividends are growing and we have strong trading momentum despite significant market volatility. We have radically simplified Aviva, we are financially strong and we are utterly focused on transforming and growing the business.
“Our core businesses in the UK, Ireland and Canada grew in 2022, and contributed to a very strong, all round performance. Life insurance value of new business is up 15%, general insurance sales are up 8% and overall operating profit is up 35%. We are investing to make it easier for customers to do business with Aviva and customer numbers in the UK have grown to 15.5m.
“Cash remittances are up strongly, our capital position is robust, and we are today declaring a final dividend of 20.7 pence, meaning a total ordinary dividend of 31.0 pence for 2022. We are committed to delivering an attractive and sustainable dividend, and have upgraded our dividend guidance to low-to-mid single digit growth in the cash cost of the dividend. We are confident in the future capital generation of our business, and so we are also announcing today an additional return of capital to shareholders, via the launch of a £300m share buyback, in line with our preference to return surplus capital regularly and sustainably. This takes the total capital return to over £5bn since 2021.
“The diversified model we have built at Aviva has proved its worth, providing clear benefits for customers and shareholders and driving our great results last year. Whilst I am pleased with what’s been accomplished over the past twelve months, I am clear there is significantly more value which Aviva can and will deliver in 2023 and beyond.”
Download the full results announcement HERE
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.