British insurer Aviva posted a 24% rise in first-half operating profit on Friday, beating expectations, as its combination with Direct Line and growth in general insurance drove earnings higher.
Aviva, which offers car, home and life insurance in Britain, Ireland and Canada, has leaned on its diversified model to weather market volatility stoked by the Middle East conflict and softening property and catastrophe rates.
CEO Amanda Blanc’s £3.7 billion ($4.99 billion) takeover of motor insurer Direct Line, has also proved to be a strong bet for the company, which has seen its sales through price comparison sites surge significantly.
Operating profit rose to £1.33 billion for the six months to June 30 from £1.07 billion a year earlier, ahead of the £1.26 billion average forecast in a company-compiled consensus.
