Aviva outlines full-year financial results

A mixed bag is the thoroughly uninteresting term that might be used to describe Aviva’s financial results for 2018 – but how else to describe a performance that saw its general and health insurance operating profit remain flat at £704 million (around SG$1.25 billion) – the exact same figure reported for full-year 2017. Perhaps it’s no surprise then that new group CEO Maurice Tulloch spoke about “re-energising” the business. “We have strong foundations but we are only scratching the surface of our full potential,” he said. “There’s a huge opportunity here. At the heart of it, it’s all about insurance fundamentals, delivering excellent customer experience, tackling complexity and injecting a different pace of change into Aviva. And that will be just the start. I am determined to re-energise Aviva and deliver long term growth for our shareholders.” Overall, the group’s operating profit rose from £3,068 million (around SG$5.48 billion) to £3,116 million (around SG$5.56 billion) thanks in part to an increase in its life business which was up 5% year-on-year at £2,999 million (around SG$5.35 billion).