9th Nov 2022 09:50
(Alliance News) - Insurer and wealth manager Aviva PLC on Wednesday backed dividend guidance as it hailed a "consistently strong" trading performance.
Aviva said total life sales in the first nine months of 2022 fell 1.7% year-on-year to GBP25.78 billion from GBP26.23 billion. The value of new business surged 37% to GBP530 million, however.
"Trading is positive and our performance is consistently strong. We have had a good nine months due to our market leading positions, our customer focus and the clear benefits of Aviva's diversified business across insurance, wealth and retirement," Chief Executive Officer Amanda Blanc said.
Assets under management at September 30 rose 2.1% to GBP143 billion from GBP140 billion at the end of June.
Aviva backed dividend guidance. It expects a 31.0 pence per share payout for 2022 and 32.5p for 2023. In addition, its intention to "return further capital to shareholders" next year was affirmed. Aviva declared a 10.3p interim dividend this year and paid 22.05p for all of 2021.
Aviva's Wealth net flows fell 4.1% to GBP7.0 billion from GBP7.3 billion. General Insurance gross written premiums rose 11% to GBP7.2 billion at September 30 from GBP6.5 billion a year ago. UK & Ireland Life's value of new business grew 46% to GBP466 million from GBP319 million.
Aviva shares were 2.1% lower at 424.90 pence each in London on Wednesday morning.
By Tom Budszus; [email protected]
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