Aviva back in black for H1 2013 but UK life takes a tumble

The group's UK life business saw operating profit slump £13m to £438m for the first half of the year, and new business volumes reduced by 16%, though the value of new business was 16% higher, mostly driven by the company's re-pricing of its annuities book. The value of new business across the group increased by 17% to £401m, though Aviva said there are "areas of underperformance" in all three sections of its business - cash flow generators, future cash flow generators and turnaround businesses. Aviva Investors was cited as a "turnaround business" which has underperformed from a shareh...