Aviva 1st Half Net Profit Falls, Warns of Large Covid-19 General Insurance Claims
August 06 2020 - 3:07AM
Dow Jones News
By Sabela Ojea
Aviva PLC reported Thursday a fall in net profit for the first
six months of the year and said it had general insurance claims
related to the coronavirus pandemic of 165 million pounds ($216.4
million.)
"Claims are primarily as a result of disruption to business and
travel insured by the group, partially offset by a reduction in the
frequency of motor claims," the company said.
The FTSE-100 insurer posted a net profit of GBP821 million
compared with GBP1.12 billion for the same period a year
earlier.
Aviva made a pretax profit of GBP804 million from GBP2.05
billion for the same period a year earlier, it added.
The U.K. company had gross written premiums of GBP15.23 billion
and a solvency II Capital surplus --a measure of balance-sheet
strength--of GBP12.0 billion, equal to a cover ratio of 194%
compared with 206%.
The board has declared an interim dividend of 6 pence a
share.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 06, 2020 02:52 ET (06:52 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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