Aviva keeps dividend, capital returns guidance after UK’s December cold snap By Reuters


© Reuters. FILE PHOTO: An Aviva emblem on the window of the corporate head workplace within the metropolis of London, Britain March 7, 2019. REUTERS/Simon Dawson/File Photograph

LONDON (Reuters) – British insurer Aviva (LON:) on Wednesday maintained its dividend steerage and capital returns outlook because it reported a constructive finish to buying and selling for the 12 months in its common insurance coverage unit.

The corporate stated it expects the group’s full-year mixed working ratio to be round 94.6%, in step with steerage given at its third-quarter replace.

“We proceed to cost appropriately for the excessive inflation atmosphere, specifically in UK Private Strains, responding at tempo to rising knowledge and developments,” the insurer stated in a press release.

One in every of Britain’s largest motor and residential insurers, Aviva estimated December’s opposed climate circumstances within the UK to price round 50 million kilos ($61.65 million), and stated it was persevering with to assist prospects following the chilly snap.

Over the course of 2022, it stated its climate expertise in its UK & Eire enterprise was solely marginally above long-term averages while its Canadian enterprise truly recorded decrease than long-term averages with no fourth quarter climate occasions.

($1 = 0.8110 kilos)

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