Aviva’s adjusted operating profit rose by 14 per cent in the six months to 30 June from £725m to £829m.
UK & Ireland life sales were up 4 per cent to £16.84bn, from £16.24bn the year before. Notably, sales in its annuities and equity release division climbed by 12 per cent to £2.76bn compared to £2.47bn.
The insurer’s general insurance gross written premiums rose 7.3 per cent to £4.69bn from £4.37bn.
New business in its life unit was up 3 per cent to £17.4bn from £16.9bn. The Solvency II cover ratio fell to 234 per cent from 244 per cent.
Looking ahead, Aviva said it is confident in its outlook for 2022, despite a challenging market backdrop. The insurer also said it expects to start a share buyback programme when its 2022 full-year results are announced and expects a Solvency II cover ratio of 213 per cent.
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