Aviva PLC (NYSE:AVVCL.PFD)

$ 25.49 0 (0%) Market Cap: - Enterprise Value: -21.00 Bil PE Ratio: 13.12 PB Ratio: 1.47 GF Score: 65/100

Half Year 2022 Aviva PLC Earnings Call Transcript

Aug 10, 2022 / 07:45AM GMT

Transcript

Amanda Jayne Blanc

Aviva plc - Group CEO & Executive Director

Good morning, everyone. Thank you all for joining us for our half year results presentation, whether you're in the room or online.

As always, I'll start today with an overview of our first half performance and an update on the strategic progress that we are making. And then I'm going to hand over to Colin, before wrapping up and moving on to Q&A.

So let's start with the results. As you will have seen from the numbers, we've had a very strong first half, and we have momentum. Aviva is growing. Value of new business is up 13%. Gross written premium is up 6%, and we've had GBP 5 billion worth of net flows into our Wealth business.

Costs are down 2%, as we maintain our focus on cost discipline and efficiency, and profitability is improving. Own funds generation is up 46% and operating profit is up 14%. And we've delivered an excellent overall combined operating ratio of 94%, despite the impact of inflation, which demonstrates the benefits of the scale and diversification of our General Insurance business.

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