Aviva Plc H1 Profit Surges, Premiums Up; Lifts Dividend - Quick Facts

(RTTNews) - British life and health insurer Aviva Plc (AV.L, AV) reported Thursday that its first-half IFRS profit before tax attributable to shareholders climbed to 875 million pounds from 337 million pounds a year ago. Earnings per share surged to 14.7 pence from 2.4 pence last year.

Operating profit increased 11% to 1.465 billion pounds from last year's 1.325 billion pounds. Operating earnings per share increased 15% to 25.8 pence from 22.4 pence last year.

IFRS net asset value per share was 412 pence, compared to 414 pence a year ago.

Gross written premiums increased to 13.58 billion pounds from 12.59 billion pounds last year. Net earned premiums grew to 12.14 billion pounds from 11.09 billion pounds a year ago.

In the first half of 2017, the company said it increased sales right across the group and delivered strong growth in operating profit in the UK, Europe and Aviva Investors.

Total group assets under management was 475 billion pounds, higher than 450 billion pounds a year ago.

Further, the company increased interim dividend by 13% to 8.4p per share.

Looking ahead, Thomas Stoddard, Chief Financial Officer, said, "We remain committed to the three financial targets set in July 2016: (1) to deliver mid-single digit percentage growth in operating EPS over the medium term, (2) for our business units to remit £7 billion of cash to group centre in 2016 to 2018 inclusive and (3) to increase our dividend payout ratio to 50% by the end of 2017."