Aviva share slipped on Wednesday despite reporting a very respectable set of results for the first nine months of 2022.
New business across Aviva insurance business was robust with UK&I Life new business rising 46% and gross premium in General Insurance up 10%.
However, the investment and wealth business did see some weakness due to a challenging environment for their platform business.
The investment business may see further challenges going forward which could be the driver behind Aviva share’s 2% dip in early trade on Wednesday.
Any downside in Aviva shares might perhaps get the attention of income investors given Aviva said they didn’t see any need to alter their 32.5p dividend guidance for 2023. With Aviva shares at 424p, the delivery of the 32.5p would mean Aviva has a 7.6% yield.
“Trading is positive and our performance is consistently strong. We have had a good nine months due to our market leading positions, our customer focus and the clear benefits of Aviva’s diversified business across insurance, wealth and retirement,” said Amanda Blanc, Group Chief Executive Officer.
“Our customers have continued to save for their future and protect what is valuable to them. Flows in our Wealth business were encouraging and general insurance volumes continue to grow, especially in commercial lines. Profitability also remains robust across both life and general insurance.”