Aviva plc, the UK savings, investments and insurance group, reported a 2,904 million profit for the year, up 29% from last year.
The insurer raised dividends by 9%, and long-term savings with a life operating profit of 1,814 million, an 11% rise. The general insurance and health profit was up 22% to 1,551 million. Fund management profit more than doubled to 92 million, from 40 million in 2004.
“We’ve delivered a strong life result as profits continue to grow faster than sales,” said Richard Harvey, group chief executive. “We made real progress in continental Europe where our long-term savings businesses performed well and we’ve gained good ground in the developing markets of Asia. Our banc assurance expertise has been a major factor in our progress in the UK, continental Europe and Asia.”
He added that the company has been able to “increase our dividend, moving above the rigid 5% dividend growth target that we set in 2002, and at the same time we are announcing plans to pay 700 million into our UK pension schemes.”