Aviva announces year-round results

“The acquisition … supports our strategy of sustainable growth and expands Aviva’s ability to provide quality financial advice,” she said.

Still, this transaction is subject to approval and is expected to close in the second half of this year, which is a future transaction. So how is the Aviva business currently functioning?

The answer seems pretty good. The company reports that the GWP has surged from £ 8.3bn in the previous year to £ 8.8bn (about $ 14.88 billion) across the non-life insurance business. And GWP’s lifetime new business revenue surged from £ 29.9 billion to an eye-catching £ 36.7 billion.

“2021 was a year of significant strategic progress across Aviva,” Bran said in a media statement. “We have successfully completed the sale of eight non-core businesses, creating great value for our shareholders. Our financial position has been strengthened and Aviva is now focused on the core markets of the UK, Ireland and Canada. It’s a much simpler and slimmer business. “

Bran also declared a total capital return to shareholders of £ 4.75bn, including an existing £ 1bn share buyback.

“Our people are at the heart of our success, and it’s right to share the values ​​that helped them create,” she added. “So we are giving each of our 22,000 employees £ 1,000 on Aviva shares.” Thank you, “she says. “

Focusing on the non-life insurance business, operating profit increased 75% in the UK market, reaching £ 318 million annually. In Ireland, on the other hand, it increased by 23% to £ 38 million. However, Canada remains the highest performing region, rising 42% to £ 406m.

The UK, Ireland and Canada as a whole have the highest total GWP in 10 years, up 6% to £ 8.8bn (2020: £ 8.3bn). This includes a 7% increase in the UK and a 6% increase in Canada. UK commercial GWP increased 15% to £ 2,609m (2020: £ 2,262m). Meanwhile, Canada’s commercial line GWP increased 10% to £ 1,268m (2020: £ 1,153m) due to rising rates in the general tough market.

Aviva announces year-round results

Source link Aviva announces year-round results

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