Aviva's (AV) adjusted operating profit rose 6% to £2.05B ($3.43B) in 2013 as the value of new business climbed 13% to £835M after dropping in 2012
The insurer said it's on track to deliver £400M in cost cuts by the end of 2014.
Massive U.K. flooding this year has cost Aviva £60M.
Aviva increased its final dividend to 9.4 pence from 9 pence, bringing the total for 2013 to 15 pence vs 19 pence in 2012.
Shares are +8.2% in London. (PR)
Mar. 6, 2014, 4:11 AM
Mar. 7, 2013, 3:36 AM
Aviva (AV):2012 after-tax loss £3.05B vs £60M profit in 2011, due to writedown on the sale of its US business. Operating profit -4% to €1.78B. Slashes Q4 dividend to 9 pence from 16 pence to help pay debt, build up capital reserves, and put the insurer in "a sound position for the future." Shares -12.7% in London. (PR) Mar. 7, 2013, 3:36 AM