Insurer Aviva posts 4% rise in H1 profit

London - British insurer Aviva posted a 4% rise in first-half operating profit as its European and UK general insurance businesses built on a strong start to the year, making up for weakness in Canada.

Aviva, which provides personal lines of insurance including motor, home, travel and life cover, said it had laid out a new set of targets to achieve an operating expense ratio of below 50% and double its annual excess holding company cash flow to £800m.

Operating profit increased to £1.05bn in the six months ended June 30, from £1.01m last year.