Aviva ‘a work in progress’ as profits rise

Britain’s biggest insurer today insisted its turnaround plans were on track as it unveiled a rise in profits for the first half of the year.

Aviva reported an interim operating profit of £1 billion, up 4 per cent on a year earlier, with the value of new business sales rising 9 per cent to £453 million.

Chief executive Mark Wilson said: “The half-year results show that momentum in Aviva’s turnaround continues.

“We have reduced our debt, decreased expenses and increased profit – this is just good business. Aviva remains a work in progress, and these results are a step in the right direction.”

Shareholders are in line for an interim dividend of 5.85p a share, an increase of 4.5 per cent on last time.