UK’s Aviva Posts 16% Rise in Q1 General Insurance Premiums

Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain.

Life and general insurer Aviva, which has its main operations in Britain, Canada and Ireland, also reported a 13% rise in retirement sales, driven by higher volumes in bulk purchase annuities – insurance for corporate pension schemes.

Aviva said it remained confident in meeting its group targets, including operating profit of 2 billion pounds by 2026 and it saw strong demand in its wealth, and health and protection businesses.

“We have clear competitive advantages…which are driving consistently strong performance, and giving us real optimism about 2024,” CEO Amanda Blanc said in a statement on Thursday.

($1 = 0.7859 pounds)

(Reporting by Carolyn Cohn, editing by Sinead Cruise)

Photo credit: Aviva