By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Next Gen Econ
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Reading: Aviva Reports Strong Q1 As Better Pricing Boosts Premiums
Share
Subscribe To Alerts
Next Gen Econ Next Gen Econ
Font ResizerAa
  • Personal Finance
  • Credit Cards
  • Loans
  • Investing
  • Business
  • Debt
  • Homes
Search
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Follow US
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.
Next Gen Econ > Investing > Aviva Reports Strong Q1 As Better Pricing Boosts Premiums
Investing

Aviva Reports Strong Q1 As Better Pricing Boosts Premiums

NGEC By NGEC Last updated: May 23, 2024 3 Min Read
SHARE

Shares in Aviva dipped on Thursday despite the release of strong first-quarter trading numbers. At 492.9p per share, the Aviva share price was last 0.7% lower higher.

The FTSE 100 life insurer said that General Insurance gross written premiums (GWPs) rose 16% between January and March, to £2.7 billion.

In the UK, GWPs increased 19%, to £1.7 billion, with year on year growth across its personal lines coming in at 27%.

This was due to “continued strong rate discipline in the high inflationary environment, and new business growth,” the company said.

In Canada, GWPs rose to £900 million, up 11% year on year, as “rating actions on the existing book and new business growth” propelled personal line premiums 16% higher.

Strength Elsewhere, Capital Ratio Falls

Elsewhere, Aviva said that Protection and Health sales were up 5% in quarter one thanks to growth across its protection products.

Sales of its Retirement products increased 19% thanks to higher bulk purchase annuity (BPA) volumes. Retirement margins rose to 2.9% from 1.9% as the company “focused on pricing discipline,” Aviva said.

Wealth net flows improved 15% from the same 2023 period, to £2.7 billion, with Workplace and Platform sales rising 13% and 24% respectively.

The FTSE firm’s said its Solvency II capital ratio “remains strong,” though it dipped 1% year on year to 206%.

This reduction was “driven by the final dividend, share buyback and the acquisition of Optiom, partly offset by total capital generation in the quarter and completion of the sale of Singapore,” Aviva said.

Targets Unchanged

Chief executive Amanda Blanc commented that “this is another set of excellent results, extending our track record of consistently strong trading. Our diversified business model is continuing to deliver, and we are growing right across the group.”

She added that “Aviva is in great health. We are financially strong, we are trading well, and our investments in new products and customer service are paying off. We have clear competitive advantages – in our brand, our scale, and our diverse business – which are driving consistently strong performance, and giving us real optimism about 2024.”

Aviva confirmed it remains on course to generate £2 billion of operating profit by 2026. Plans to Solvency II own funds generation of £1.8 billion by then, and cash remittances above £2.8 billion between 2024 and 2026, also remained unchanged.

Royston Wild owns shares in Aviva

Read the full article here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Tips for Working From Home
Next Article 15 Things That Boomers Think Suck and They’re Right
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FacebookLike
TwitterFollow
PinterestPin
InstagramFollow
TiktokFollow
Google NewsFollow
Most Popular
Home Upgrades That Secretly Lower Property Value
July 1, 2025
I asked 4 licensed agents what you should know before you shop for car insurance
July 1, 2025
8 Elder Care Scams Still Tricking Thousands Each Year
July 1, 2025
You Bailed During The Stock Market Dip: 5 Moves To Make Now
July 1, 2025
What Credit Score Is Needed For Chase Credit Cards?
July 1, 2025
Could Renting Be Part of the New American Dream?
July 1, 2025

You Might Also Like

Investing

5 Of The World’s Richest Crypto Billionaires

7 Min Read
Investing

Money Market Funds: How To Invest In This Highly Liquid, Low-Risk Asset

8 Min Read
Investing

ETFs Vs. Index Funds: Key Differences And Similarities

10 Min Read
Investing

How To Invest Money Today

12 Min Read

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Next Gen Econ

Next Gen Econ is your one-stop website for the latest finance news, updates and tips, follow us for more daily updates.

Latest News

  • Small Business
  • Debt
  • Investments
  • Personal Finance

Resouce

  • Privacy Policy
  • Terms of use
  • Newsletter
  • Contact

Daily Newsletter

Subscribe to our newsletter to get our newest articles instantly!
Get Daily Updates
Welcome Back!

Sign in to your account

Lost your password?