British insurer and asset manager Aviva (AV.L) reported growth in major business lines in the first quarter of 2023, while net flows to its wealth division slowed after market volatility.
Aviva has launched a multi-year turnaround under CEO Amanda Blanc to increase shareholder payments, but like rivals, it is facing claims inflation and uncertain market circumstances.
The FTSE 100 business said general insurance premiums rose 11% to 2.4 billion pounds, and private healthcare sales rose 25% as more people and companies chose private coverage.
Aviva Investors’ net flows fell 15% to 2.3 billion pounds, blaming market volatility.
The company announced it would reach or surpass several medium-term performance targets.
Aviva said it would meet its cost reduction aim of 750 million pounds and its funds’ generation target of 1.5 billion pounds by 2024.
