Aviva profits jump 14% to £875m in first half of 2024
The increase was driven by improved profitability in its General Insurance businesses
The increase was driven by improved profitability in its General Insurance businesses
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Victory Park Capital manages $6bn assets
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The fees involved with merging its investment management and capital divisions proved costly, weighing on its half-year results
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Company also achieved a 28% increase in adjusted profit
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The business was impacted by outflows and lower margins in its Investments arm
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Plans for cost base reduction aim to reach full run-rate savings of £100m by 2027
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Underlying net outflows were just £0.2m, excluding the impact of the departures, with positive flows in retail and wholesale
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The 45% profit fall led to a 7.8% share price drop during after-hours trading
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It attracted 25,000 new customers over the past three months, bringing its client base to 528,000
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The fund research agency will become part of Defaqto
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Cash also fell 82% as the company’s debts rose to £0.6m
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