Shareholder update - October 2022 (2024)

Dear Shareholder

Welcome to another of our regular updates.

At the time of publication of this update the external environment remains difficult. But we’re living up to our purpose of ‘with you today, for a better tomorrow’ and have launched new, low cost, insurance products and are increasing the range and amount of support we offer to communities, businesses and our own people. Despite the challenging market backdrop, we remain confident in our outlook for the rest of the year.

I’m pleased to report continued strong progress and good momentum across the business. Our interim results showed the benefits of our diversified model with excellent growth across the Group, including in our General Insurance businesses, in Protection & Health and in Annuities & Equity Release. We’re on target with our efficiency improvements, and our capital position remains extremely healthy.

By focusing on our strategic priorities of customer, growth, efficiency and sustainability, we’re delivering good performance for Aviva. This in turn means we can continue to deliver for you, our shareholders. As you can read below, we declared a dividend in line with our expectations and anticipate additional returns of capital to you; final details will be published with our 2022 full year results.

Thank you once again for your continued interest in and support for Aviva.

George Culmer -Chair

2022 interim results

Amanda Blanc, Group Chief Executive Officer, said:

"Sales are up, operating profit is higher, our financial position is stronger. This has been an excellent six months for Aviva.

Our scale and diversification give us resilience and opportunity, enabling Aviva to withstand the challenging economic climate. Our market leading positions and our unique ability to look after a wide range of customers' needs are clear advantages and have driven robust operating performance. Trading has been encouraging across all our major businesses in insurance, wealth and retirement.”

Read ourAviva plc 2022 half year results announcement - Aviva plcfor more details.

2022 interim dividend

The Board of Directors has declared an interim dividend of 10.3 pence per share, up 40% (HY21: 7.35 pence) on a post consolidation basis, with a cost of c.£289 million (HY21: £286 million). This is consistent with our full year 2022 dividend guidance of c.31.0 pence^* (approximately £870 million).

Given our strong capital position and prospects, we anticipate commencing a new share buyback programme with the 2022 full year results, subject to market conditions and regulatory approval.

Assuming a new buyback is agreed, its size will be determined by the Board at year end and will take account of the financial position at that time, as well as both the drivers of the capital surplus (including the impact of market movements) and our preference to return surplus capital regularly and sustainably.

_{*The Board has not approved or made any decision to pay any dividend in respect of any future period.}

Find out more about Dividends - Aviva plc

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