Insurer Aviva Ireland said its operating profit for the year to the end of December rose by 13% to €69m as it grew its gross written premium and policy count for the first time in eight years.
Aviva Ireland said its combined operating ratio - a key measure for profitability in general insurance - improved by 2.6 percentage points to 96.6%.
This was despite the increase in claims costs in the market.
The company said its continued focus on expense management and net profitable growth contributed to a 1% increase in profit to €29m despite the impact of weather related claims in the first quarter of last year.
Operating profits in its life business rose by 7% to €28m. The value of new business grew "significantly" last year - up 30% to €13m - on the back of a continued focus on protection and annuity business.
It noted that it has completed the transfer of its life portfolio to the UK operations, which significantly reduces its capital requirement and makes its Irish business more sustainable.
The company agreed a £5.6 billion takeover of rival Friends Life in December.
Today it announced a final dividend of 12.25 pence per share, up 30%, making a total dividend for the year of 18.1 pence per share.
Aviva's chief executive Officer Mark Wilson said the increased dividend reflected the progress made by the business during the year and its improved financial position.
"We have entered 2015 in a position of strength. Nevertheless, it would be wrong to assume that our turnaround is nearing completion as we have further to travel than the distance we have come," he said.
Aviva said its Irish health business profits slumped 34% to €12m against a backdrop of an uncertain regulatory environment and challenging market conditions.
But it noted that it secured some significant new corporate clients last year.
"Our results show that Aviva Ireland ended 2014 in a good position. We have more to do and we have a clear strategy in place to build on our performance in 2015," commented Hugh Hessing, Aviva Ireland's chief executive.
"We will seek to take full advantage of our position as the only composite insurer in the market for the benefit of our customers and our partners. We believe we are well placed to take full advantage of the strong and broadly based recovery now underway in the Irish economy," Mr Hessing added.
Meanwhile the company's UK parent today reported a 6% rise in 2014 operating profit, in line with market expectations, and warned it had more work to do to complete a turnaround in its performance.
Aviva made an operating profit of £2.17 billion, compared to a forecast of £2.15 billion in a company-supplied poll.
The company agreed a £5.6 billion takeover of rival Friends Life in December.
Today it announced a final dividend of 12.25 pence per share, up 30%, making a total dividend for the year of 18.1 pence per share.
Aviva's chief executive Officer Mark Wilson said the increased dividend reflected the progress made by the business during the year and its improved financial position.
"We have entered 2015 in a position of strength. Nevertheless, it would be wrong to assume that our turnaround is nearing completion as we have further to travel than the distance we have come," he said.
