Aviva said that its first-half equity release business jumped 42% driven by “higher market lending” and new product launches.
The insurer added that its later life present value of new business premiums hit £162m in the six months to the end of June.
“We remain a conservative [equity release] lender within the overall marketplace,” the group added.
It reported that its securitised mortgage loan and equity release portfolio of £9bn is “mostly internally securitised” at an average loan to value of 28.2%.
UK&I general insurance premiums rose 9% to £4.1bn in the period, lifted by sales in its broker channel and a travel partnership with building society Nationwide.
The business completed its £3.7bn takeover of smaller rival Direct Line in July, with integration “well underway”.
The FTSE 100 insurer said group operating profit jumped 22% to £1.1bn.
Aviva chief executive Amanda Blanc said: “Trading has been very good right across Aviva.”
Blanc added: “We are very well positioned to accelerate growth in the capital-light areas of wealth, health and general insurance, and deliver more and more for our shareholders.”
