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Aviva Ireland sees 80% rise in profits during first half of 2015

General and life insurance products were performing well, but the health market has become less profitable for Aviva
General and life insurance products were performing well, but the health market has become less profitable for Aviva

Aviva Ireland made an operating profit of €45m in the first six months of the year – up 80% on the same period of 2014.

The company said the amount of general insurance business it was doing grew by 8%, while price rises and changes to its underwriting helped to more than double profits in the division to €23m.

Aviva said benign weather in the year so far had also helped the business, as had a focus on costs and fraud.

The company’s life insurance and assurance division has also grown, with the value of its new business up 17%.

This was helped by an increase in the sale of pensions and annuities, while investment products were also performing well.

Profit at Aviva Ireland’s health business also halved to €2.6m, however, with the company blaming an increase in claims costs and frequency.

Customers were also increasingly switching to cheaper packages at renewal, which had pushed down the average premium the company was charging.