Aviva to return 4 bln stg to investors as profit rises 17%

LONDON, Aug 12 (Reuters) - Aviva will return at least
4 billion pounds ($5.55 billion) to shareholders, starting with
an immediate 750 million pound share buyback, the British
insurer said on Thursday, as it reported a 17% rise in
first-half operating profit to 725 million pounds.

Operating profit from continuing operations had been seen at
781 million pounds, according to a company-provided consensus
poll.

Activist investor Cevian Capital in June said Aviva should
return 5 billion pounds of excess capital in 2022, after
revealing it had built up a near 5% stake in the British
insurer.

Aviva has raised 7.5 billion pounds from selling eight
businesses across the globe since the appointment of Amanda
Blanc as CEO in July 2020.
($1 = 0.7211 pounds)
(Reporting by Carolyn Cohn; Editing by Hugh Lawson)

Aviva