Aviva Plc, the British insurance and asset management company, said it plans to buy back shares worth £300 million after it reported growth in sales and operating profit, Bloomberg reported.
The company’s operating profit increased 9% to £1.467 billion ($1.9 billion) in 2023. Aviva also declared a final dividend of 22.3 pence a share. With this, the total dividends for the year stand at 33.4 pence, up 8% from the previous year.
“We have made significant progress in 2023. Sales are up, costs are down, and operating profit is 9% higher,” Aviva’s Chief Executive Officer Amanda Blanc said in the statement.
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Over the past three years, the company has returned more than £9 billion to shareholders via buybacks and dividends, it said. Apart from that, Aviva has been investing as well. Recently, it 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, the Bloomberg report added.
Aviva’s clients infused a net £8.3 billion into funds in its wealth business, helping to push assets under management in that unit up 15% to £170 billion, the report said.
(With inputs from Bloomberg)
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Published: 07 Mar 2024, 02:18 PM IST