(Bloomberg) -- UK insurer Aviva Plc said its wealth unit saw net inflows in the first half of 2024, with assets under management in the business rising about 19% to £186 billion ($239 billion) from a year earlier.
The arm attracted a net £5 billion, while the firm’s asset management business, Aviva Investors, recorded positive net flows of £1.3 billion in the second quarter, the London-based company said in a statement Wednesday. General insurance premiums increased 15% in the six months through June.
“We remain very positive about Aviva’s prospects,” Chief Executive Officer Amanda Blanc said in the statement. “Trading conditions across the UK, Ireland and Canada, are excellent.”
In March, Aviva said it had returned more than £9 billion to shareholders via buybacks and dividends over the past three years. In addition to returning capital, the company acquired insurance platform Probitas for £242 million, marking its return to Lloyd’s of London market for the first time in more than two decades.
Aviva’s operating profit grew 14% to £875 million in the first half, beating the £824 million consensus in a Bloomberg survey. It reiterated its previous target of £2 billion in operating profit by 2026. The company declared an interim dividend of 11.9 pence a share for the period, up 7% year-on-year.
“The UK market, our largest, is highly attractive and growing,” Aviva’s Blanc said. “We see many reasons to invest here, including greater economic stability and political certainty.”
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