In its first-quarter trading update in May, composite insurance giant
Aviva (AV.) reported strong growth across its retirement, health and general insurance lines.

Retirement earnings were boosted by positive trends in the bulk purchase annuity market following a string of interest rate rises this year, and the firm hinted its pipeline for the second year looked strong.

Meanwhile, health has benefited from increased demand from individuals and companies due to the well-publicised travails of the NHS and general insurance has seen rising premiums across the board.

In July, however, the firm restated its 2022 profits and published new forecasts for its half-year and full-year earnings under the IFRS 17 accounting standard which, while it doesn’t make a difference to
the company’s ability to pay a dividend, from what we can see does mean the estimates look a lot different to consensus.

For the first half, the group expects to report an operating profit of roughly £700 million, while for the full year it sees profits rising between 5% and 7% to £1.4 billion to £1.45 billion, which is around a third lower than the market is forecasting according to analysts at Jefferies, so shareholders need to bear this in mind when digesting the results which are due on 16 August.

UK

Half-year results

11 August: Beazley

14 August: Centralnic

15 August: Georgia Capital, Just Group, Convatec, Kenmare Resources

16 August: Aviva, Balfour Beatty, Essentra, Marshalls

17 August: Intelligent Ultrasound, Empiric Student Property, Bank of Georgia

Full-year results:

14 August: Darktrace

17 August: Rank, ITM Power

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