LONDON (dpa-AFX) - Aviva plc (AV.L, AV) reported that its profit attributable to equity holders of the company for the six month period ended 30 June 2020 dropped to 821 million pounds or 19.7 pence per share from 1.12 billion pounds or 27.9 pence per share in the previous year.
The company said that its focus will be on building and extending its leadership in the UK, Ireland and Canada. In those markets, it will invest for growth.
The company also noted that its international businesses in Europe and Asia will be managed for long-term shareholder value. It will build on the good work its teams are doing to grow and optimise their businesses, but where it cannot meet its strategic objectives, it will be decisive and it will withdraw capital.
Aviva's profit before tax for the six month period ended 30 June 2020 dropped to 804 million pounds from 2.05 billion pound in the previous year.
Excluding COVID-19 impacts on general insurance claims, operating profit was flat year on year, with strong results in UK annuities and the continued recovery in Canadian results offset by higher weather claims across general insurance businesses and additional expenditure related to community support initiatives.
Gross written premiums for the period were 15.23 billion pounds compared to 15.21 billion pounds last year. Net earned premiums declined to 13.03 billion pounds from 13.50 billion pounds in the previous year.
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