Aviva financial results show profit of £1.2bn during the first half of 2020
Aviva CEO Amanda Blanc has described Aviva's H1 figures as "solid", describing the insurer's financial position as "strong" and "robust".
"I have been CEO for one month and I am confident we have many of the ingredients to make Aviva a winner," she said. "From this moment on, we must deliver. Nothing else will do. My focus is making sure this happens and at pace."
Aviva has today reported an operating profit of £1.2bn as part of its 2020 interim results - a reduction of last year's £1.38bn HY figure. New premiums value for life business reached £21.2bn (slightly down from £21.3bn for HY19) and its new business value increased to £601m (compared to £535m for the same period last year).
Its general insurance net written premiums remained around £4.7bn alongside recorded net IFRS Covid-19 claims impact of £165m.
Blanc said: "We will focus Aviva on our strongest businesses in the UK, Ireland and Canada and aim to be the UK's leading insurer. We are going to focus on those businesses where we have the necessary size, capability and brilliant customer service to generate superior shareholder returns. This is where we will invest and grow.
"Where we cannot meet our strategic objectives, we will take decisive action and we will withdraw capital. We must transform our performance and improve our efficiency. This requires great customer service, stronger innovation and better use of our brand. Our transformation will be underpinned by continuing to manage our balance sheet prudently, reducing debt and increasing our financial resilience."
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