Insurance group Aviva has delivered a better than expected 29% increase in full-year profit, helped by strong growth in general insurance.
Aviva said worldwide operating profit for 2005 came in at £2.9bn on a European embedded value basis, up from £2.2 bn the previous year, and ahead of the £2.6bn consensus analyst forecast.
The increase was driven in part by a surge in profits from general insurance, which rose 22% on the year to £1.5bn, helped in part by strong internet sales.
Chief executive Richard Harvey said the group's existing businesses would deliver further growth in 2006, but added that the company "will continue to evaluate new distribution opportunities and acquisitions where we can create shareholder value".
Aviva also announced plans to pay £700m into its UK staff pension schemes over the next two years.
