Aviva reports 2016 operating profit of £3.0bn with UK growth

General insurance provided a second growth leg, with net written premiums up 15% to £8,211m in 2016 versus £7,171m in 2015. At the half‑year stage, general insurance net written premiums had already increased 7% to £3,991m compared with £3,678m in the first half of 2015, showing momentum across the book. This expansion in premium income sat alongside the broader uplift in group operating profit and earnings per share over the full year.

Fund management activities also scaled, with operating profit in that segment up 48% to £49m in the first half of 2016, compared with £33m a year earlier. This growth in fee‑based earnings complemented the insurance result, adding a diversified income stream to the group's operating profit base.

On capital, Aviva reported a Solvency II coverage ratio of 174% at the half‑year, compared with 180% at the end of 2015. The ratio remained well above 100%, providing a buffer while the group continued to integrate Friends Life and grow capital‑intensive lines such as annuities and protection.

Digital engagement metrics moved higher alongside the financials, with registrations on the MyAviva platform surpassing 3 million in the first half of 2016, up from 2.3 million at the end of 2015. The group described MyAviva registrations as a key leading indicator. Management linked customer engagement to future product cross‑sell and retention potential. The group achieved combined growth across life, general insurance and fund management under this leadership. The company maintained a Solvency II coverage ratio that remained well above regulatory minima. No specific timing has been set in these disclosures for any change in strategic direction beyond continued execution of the existing growth and integration agenda.

Sources: slideshare.net · aviva.com