Friday 07 August 2015 by Company updates

Aviva 1H15 results update

THIS CONTENT IS SUITABLE FOR WHOLESALE INVESTORS ONLY

Aviva (now merged with Friends Provident) has posted a good set of 1H15 results overnight

Key points:

  • Underlying profit up 9% to GBP1.17bn
  • Beat market estimates on all fronts
  • NPAT was down to GBP545m but that included GBP271m in costs relating to the merger and integration of Friends Provident (as expected)
  • Capital ratios up with excess capital of GBP10.8bn (up from GBP8.0bn six months ago)
  • Increase in dividend of 15%

We continue to like Aviva and the old style subdebt and Tier 1 issues of Aviva and Friends Provident/Friends Life which are all part of the same group.

 For further detail please see the Aviva PLC 2015 Interim results announcementExternal link - opens in a new window.