UK success drives growth for Aviva as 2017 results are revealed
Aviva says the success in its core United Kingdom market has fuelled a positive set of results for 2017, revealed on Thursday.
The insurance leader recorded a 2% rise in operating profit over the course of the year compared to 2016, totting up £3.1bn in gains compared to a forecast of £3bn.
In terms of growth, Aviva took its biggest steps in its Aviva Investors asset management firm, where revenues grew by 14%. The value of its new business rose over £1bn for the first time to £1.25bn, up a quarter from 2016.
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It also grew operating earnings per share by 7% and its full-year dividend by 18%, the fourth consecutive year of double-digit dividend growth, and promised to spend £600mn on 'bolt-on acquisitions'.
"Our largest market, the UK, has gone from strength to strength, growing sales, market share and profit. For Aviva, the UK is a dependable and growing business," said Group CEO Mark Wilson.
"We now have a collection of strong and growing businesses. We continue to invest in our businesses and in particular on priorities such as digital to make our products and services easier for our customers. Aviva is now a simpler, stronger group and we are growing. Our strategy is paying dividends."