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Insurance

Aviva shares shift higher as it completes share buyback

Aviva PLC (LSE:AV.) shares climbed almost 1% higher after the life insurer announced it completed its £300 million buyback programme.

Launched back in March, the FTSE 100-listed group has now acquired 62 million shares at an average price of 478p per share.

At Friday's close, Aviva had more than 2.68 billion shares admitted to trading on the market, 3.3 million of which are scheduled to be cancelled as part of the programme.

Following the cancellation, there be will 2.67 billion shares in issue.

Back in May, Aviva reported a strong start to 2024, keeping its full-year outlook unchanged.

General insurance premiums increased 16% to £2.7 billion and workplace pensions business generated net flows of £2 billion as 136 new schemes were won.

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