Aviva saw operating profit rise 14 per cent in the first half of 2024, show its interim results published this morning (August 14).
In the first half of the year it recorded operating profits of £875mn compared with £765mn in the same period the previous year.
In its wealth business it recorded inflows of £5bn, up 16 per cent from £4.3bn in the first half of 2023.
Amanda Blanc, group chief executive of Aviva, said: "We have achieved another six months of excellent trading. We have generated growth right across Aviva, thanks to our leading positions in attractive markets such as workplace pensions and general insurance in the UK and Canada.
“Aviva continues to benefit significantly from the balanced and diversified business we have built and lead. We are the only UK insurer which can look after customers’ entire insurance, wealth and retirement needs, and this is paying off."
Blanc said the firm has 270,000 more customers this year and 4.9mn UK customers have more than one policy with Aviva.
Protection sales were up 49 per cent following the purchase of AIG UK protection which was completed in April.
However, retirement sales were lower than 2023 with sales of £3,036mn, compared with £3,223mn. It said this was driven by "contraction of the market" and bulk purchase annuity sales of £2.3bn.
Blanc added: "We are the number one provider of workplace pensions and are planning to launch a new venture and growth capital strategy.
"This will open up new investment opportunities for our pension customers and could help unlock billions of pounds of investment into unlisted growth companies."
The firm's interim dividend was increased seven per cent to 11.9p.
tara.o'connor@ft.com
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