LONDON, May 23 (Reuters) – Aviva (AV.L) announced a 16% increase in general insurance gross written premiums, reaching £2.7 billion ($3.44 billion) in the first quarter, buoyed by strong performance in the UK.
The life and general insurer, which operates primarily in Britain, Canada, and Ireland, also reported a 13% rise in retirement sales. This growth was driven by higher volumes in bulk purchase annuities, which are insurance products for corporate pension schemes.
Aviva expressed confidence in meeting its group targets, including an operating profit of £2 billion by 2026. The company also noted robust demand in its wealth, 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.
