By Ilaria Grasso Macola
Aviva has maintained its intention to start its share buyback programme with its full year results following a nine-month rise in premiums.
The insurance giant posted today a 10 per cent increase in general insurance written premiums of £7.2bn, while net flows in the workplace segment were up 11 per cent to £4.1bn.
Overall, net flows in Aviva’s wealth unit stood at £7bn, down 4 per cent compared with last year.
“Our customers have continued to save for their future and protect what is valuable to them,” said group chief executive Amanda Blanc.
“Flows in our Wealth business were encouraging and general insurance volumes continue to grow, especially in commercial lines.
“Profitability also remains robust across both life and general insurance.”
Baseline costs were down 2 per cent year-on-year to £2bn, as Aviva is on track to deliver its £750m savings target by the end of 2024.
“Aviva’s capital and liquidity position is strong and our high quality asset portfolio has performed well during the recent period of extreme market volatility,” the chief executive added.
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