![\"Aviva\"](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2022\/05\/Aviva-logo.png\"){kind=logo}
Insurance group Aviva has delivered its fifth consecutive year of profit growth, a hike in the dividend and has launched a buyback of its shares.<\/p>\n
Group operating profit was up 25% to \u00a32.2 billion (2024: \u00a31.767m) and the board is proposing a 10% rise in the final dividend to 26.2p per share. The company, which has big operations in Scotland, has announced a \u00a3350m shares buyback.<\/p>\n
In general insurance premiums grew by 18% and secured strong levels of profitability in the UK, Ireland and Canada. In wealth it cemented its position as the number one player with over \u00a3230 billion of assets. It attracted record net inflows of almost \u00a311 billion and won over 500 new workplace pension schemes.<\/p>\n
Chief executive Amanda Blanc said: \u201cWe have achieved our 2026 financial targets one year early, highlighting the rapid and sustained progress we are making.<\/p>\n
\u201cWe have transformed Aviva over the last five years and whilst we have made significant progress, there is so much more to come.\u201d<\/p>\n
Nick Sherrard, managing director of Label Sessions, said: \u201cSentiment on Aviva has become much more positive, although cautiously so. Today\u2019s results should go some way towards boosting analysts\u2019 view of the company, with targets achieved ahead of schedule and strong evidence that management\u2019s change programme has taken hold and is delivering results.<\/p>\n
\u201cBut the key challenge right now for Aviva is execution in a more competitive market where there is real pricing pressure, as is the challenge of integrating Direct Line at pace.<\/p>\n
\u201cThe opportunity for the future, though, is meaningful: if Aviva can build products, brands, and experiences that customers are loyal to then the medium-term prospects of the group are transformed.<\/p>\n
\u201cSmart leaders will look to some of the smaller brands in its portfolio, like Green Flag, to prove the innovation engine in the mothership is just as strong as the financial one.\u201d\u00a0<\/p>\n
Despite the positive figures, its shares fell 21.8p (-3.27%) to 645.6p.<\/p>\n
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