Aviva has reported that its protection sales increased by 49% in the first half (H1) of 2024, driven by portfolio growth following the completion of its AIG Life acquisition in April.
Excluding AIG, protection sales were consistent with the prior period and health in-force premiums increased by 10% following "strong" new business and pricing actions. Meanwhile, health sales were down 23% which Aviva said was expected due to a strong performance in the prior period following the exit of another provider in the market. Overall, Aviva's operating profit increased by 14% to £875 million in H1 2024 from £765m in H1 2023. The operating profit for its insurance, wealth and retirement (IWR) business increased by 9% to £532m from £486m in the first half of 2023. Specific...
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