Aviva mentioned that its first-half equity release enterprise jumped 42% pushed by “larger market lending” and new product launches.
The insurer added that its later life current worth of recent enterprise premiums hit £162m in the six months to the top of June.
“We stay a conservative [equity release] lender throughout the general market,” the group added.
It reported that its securitised mortgage mortgage and equity release portfolio of £9bn is “principally internally securitised” at a mean mortgage to worth of 28.2%.
UK&I basic insurance coverage premiums rose 9% to £4.1bn in the interval, lifted by sales in its dealer channel and a journey partnership with constructing society Nationwide.
The enterprise accomplished its £3.7bn takeover of smaller rival Direct Line in July, with integration “properly underway”.
The FTSE 100 insurer mentioned group working revenue jumped 22% to £1.1bn.
Aviva chief govt Amanda Blanc mentioned: “Trading has been superb proper throughout Aviva.”
Blanc added: “We are very properly positioned to speed up progress in the capital-light areas of wealth, well being and basic insurance coverage, and ship an increasing number of for our shareholders.”
