Aviva(US:AVVIY)2024-03-07 19:12Financial Performance - Group operating profit reached £1.467 billion[66], reflecting a 9% increase[30] - IWR (Insurance, Wealth & Retirement) operating profit was £994 million[8], showing a 10% increase excluding interest rate mismatch[8] - UK & Ireland General Insurance operating profit increased by 63% to £452 million[73] - Canada General Insurance operating profit increased by 18% to £399 million[99] Growth & Sales - IWR sales grew by 7% to £35.5 billion[8] - Health sales increased significantly by 41%[15, 18] - UK commercial lines premiums increased by 16%[57] - BPA (Bulk Purchase Annuities) sales were up 17%[125] Capital & Solvency - Solvency II Operating Own Funds Generation (SII OFG) increased by 12% to £1.729 billion[145] - Solvency II Return on Equity (SII RoE) was 14.7%[145], compared to 9.9% in the previous year[266] - The company is planning a £300 million share buyback program[62] Cost Efficiency - The company has achieved £757 million in gross cost reductions from 2018-2023[30, 31], exceeding the £750 million target[127] - Baseline controllable costs decreased by 12%[127] General Insurance - GI premiums increased by 9%[30]