Belfast Telegraph

Aviva's annual profits show 6% rise

By Graeme Evans

Insurer Aviva has insisted its turnaround has much further to go, despite a rise in annual profits and a big jump in its shareholder dividend.

The group, which is on the brink of completing a takeover of Friends Life in a £5.6bn deal, is now two years into a recovery plan launched by chief executive Mark Wilson following a City revolt over its performance.

The company's profits rose 6% to £2.2bn last year, with a 15% rise in the value of new business helping offset currency and regulatory headwinds.

Mr Wilson said Aviva was repaying the faith of shareholders by increasing its dividend by 30% but he said there was much work still to be done.

"We have further to travel than the distance we have come," he said.

Belfast Telegraph