Insurance company Aviva (LON:AV) reported a 2 percent rise operating profit for the full year on Thursday, as expected by analysts, alongside an 18 percent dividend hike.

Operating profit rose to £3.07 billion in 2017, up from from £3.01 billion the previous year, prompting the company to approve an 18 percent dividend hike.

Assets under management at Aviva Investors increased by 9 percent to £490 billion, reporting a 14 percent increase in fund management revenue.

“In 2017, Aviva delivered growth in profits, in dividends, in capital and in cash. Aviva grew operating earnings per share by 7 percent and our full year dividend by 18 percent, the fourth consecutive year of double-digit dividend growth,” said Mark Wilson, Aviva’s Chief Executive Officer.

“Aviva has broad-based growth, with six of our eight major markets delivering double-digit profit improvement. We now have a collection of strong and growing businesses.”

Shares in Aviva fell 2.11 percent on Thursday morning, despite the strong results, and are currently trading at 496.90 (0930GMT).