Aviva’s life insurance business grew 25 per cent to £823m during the year so far, from £685m over the same period last year.
Meanwhile, UK Life new business value grew 36 per cent to £404m, from £297m, up 13 per cent when excluding Friends Life.
The firm’s various platforms continued to grow, with over £2.2bn of net inflows in the nine months to 30 September, taking assets under management to £7.3bn.
The present value of new business for the company’s pensions was £2.2bn in the third quarter, up 70 per cent rise on its £1.3bn value of new business for pensions in the same period in 2014. Of this, £1.4bn was attributed to annuities.
Mark Wilson, group chief executive officer, said that the acquisition of Friends Life is “everything we expected it to be” and the merger has now achieved £91 million of savings against a target of £225 million.
“At the same time our UK Life business continues to grow and our customers are responding positively to the full range of pensions freedoms we offer.”
ruth.gillbe@ft.com
