Aviva back to profit

After a difficult year 2012 ended with a loss of 4.7 billion USD related to its restructuring costs, Aviva ended 2013 with a net profit of 3.5 billion USD. The announcement of this result has increased the share price of 8.13% to the London Stock Exchange on Thursday. The operating profit of the group and the value of new business respectively reach 3.4 billion USD (+6%) and 1.4 billion USD (+13%) over the year.

Nevertheless, the group remains focused on continuing its recovery. According to David McMillan, managing director of Aviva Europe, the insurer would be on the right path to achieve its goal of reducing the cost of 659.5 million USD by the end of the year. The sale of the activity of damage insurance group in Turkey is also confirmed.

As a reminder, Aviva is committed from the summer of 2012 in a deep restructuring plan, including the removal of 2000 jobs worldwide and the sale of its U.S. life insurance business for 1.8 billion USD.

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