Aviva’s preliminary results for the year ended 31 December 2006 are as follows:
– Worldwide EEV operating profit up 12% to 3,245m; IFRS operating profit up 46% to 3,110m
– Continued profitable growth in long-term savings with sales up 21% to 30,762m and stable margins at 3.5% (H1 2006: 3.5%); life EEV operating profit up 12% to 2,033m
– Strong general insurance result with combined operating ratio of 94% ahead of ‘meet or beat’ commitment of 98%; general insurance and health operating profit up 8% to 1,680m
– Balance sheet strength with 1.8 times excess IGD solvency cover
– Total dividend increased by 10% to 30.0 pence per share.
“This is high quality growth from Aviva and demonstrates the benefit of our balanced portfolio of businesses, in terms of product, distribution and geography,” says Richard Harvey, group chief executive at Aviva. “In the UK, our clear strategy and increased consumer confidence has delivered an excellent result and an increased market share.”