Life Insurance & Pensions ALL IBR | Life Insurance & Pensions Life Insurance & Pensions Home |News |White Papers |Suppliers |Companies Return to: IBR Home | Life Insurance & Pensions Select a Insurance sector ------------------------ Commercial Lines Personal Lines Claims Insurer ------------------------ Life Insurance & Pensions ------------------------ Brokerage Underwriting London Lloyds ------------------------ Reinsurance ------------------------ Technology in Insurance Outsourcing ------------------------ Regulatory & Risk Life Insurance & Pensions News Aviva posts H1 2013 profit of £776m IBR Staff Writer Published 09 August 2013
UK-based life and general insurer Aviva has posted a profit of £776m for the six months ended on 30 June 2013, compared to a loss of £624m for the same period last year.
The company's operating profit grew by 5% to £1bn in the first half of 2013, compared to £959m for the same period last year primarily due to lower expenses.
Operating expenses declined by 9% to £1.52bn in the first half of 2013, compared to £1.67bn for the same period last year.
Cash flows to the group grew by 30% to £573m in the first half of 2013, compared to £441m for the same period last year.
Aviva group CEO Mark Wilson said that the company has taken a number of steps in the first half to deliver investment thesis of cash flow and growth.
"Our key measure of sales - value of new business - has increased 17%, driven by the UK, France, Poland, Turkey and Asia," Wilson added.
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Life Insurance & Pensions
Related Dates
2013> August
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Financial Services> Insurance> Non-Life Insurance> Commercial Insurance
Financial Services> Insurance> Life Insurance
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