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Insurer Aviva PLC on Wednesday reported first-quarter growth and said it is well-placed to navigate ‘current uncertain economic conditions.’
UK & Ireland Life sales were £8.4 billion in the period, up 2% on the £8.3 billion posted a year before, with growth in Annuities & Equity Release and Protection & Health partly offset by Wealth.
UK&I Life value of new business was £144 million, up 31%.
Meanwhile, General Insurance gross written premiums were up 5% to £2.1 billion, ‘another record first quarter’, with premiums in the UK&I arm up 3% and in Canada up 10%.
‘We remain very well positioned to benefit from the long term growth trends in our markets, and to meet our upgraded financial targets. This is underpinned by our strong capital position which benefits from rising interest rates. Our financial strength and market leadership give us confidence that we can successfully navigate the current uncertain economic conditions,’ said Chief Executive Amanda Blanc.
Aviva backed its full-year targets and said its dividend guidance remains unchanged.
Shares in Aviva were up 1.7% to 412.50 pence in London on Wednesday morning.
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