Aviva plc 2017 Interim Results Announcement

In the first half of 2017, Aviva has grown operating profit, maintained capital strength and delivered on its strategic agenda.

Operating profit increased 11% to GBP1,465 million (HY16: GBP1,325 million), underlining the quality of our franchises and the benefits of our product and geographic diversity. Operating earnings per share (EPS) increased 15% to 25.8p (HY16: 22.4p).

Our Solvency II coverage ratio increased to 193%1 (FY16: 189%) and remains above our 150% to 180% working range. Operating capital generation was GBP1.1 billion (HY16: GBP1.2 billion) and cash remittances rose 56% to GBP1,170 million (HY16: GBP752 million).

We have increased our interim dividend by 13% to 8.4p per share (HY16: 7.42p).

Capital reallocation initiatives continued in the first half of 2017. We announced the withdrawal of capital from Spain and the sale of the Friends Provident International business and acquired a 100% interest in our Vietnamese venture with VietinBank. We also commenced a GBP300 million share buy-back programme.

We have extended our track record of growth while maintaining a disciplined approach to capital allocation. Our performance in the first half of 2017 reflects the foundations built over recent years and we continue to invest in our businesses to secure consistent growth in the future. Read the full story

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