Aviva releases prelim results
UK insurance giant Aviva pushed its general insurance earnings up 22% last year to £1.5 billion ($3.66 billion). Global operating profit for the UK’s largest insurer was up 29% to £2.9 billion ($6.85 billion), bolstered by a record worldwide general insurance combined operating ratio of 95%.
CEO Richard Harvey says the company is making progress in Europe, where its long-term savings businesses performed well. Aviva also gained good ground in the developing markets of Asia.
“We are confident of delivering further growth from our businesses in 2006,” he said. “We will continue to evaluate new distribution and acquisition opportunities to provide additional momentum.”