(Bloomberg) — Mark Wilson’s turnaround of Aviva Plc is ahead of plan thanks to the acquisition of Friends Life Group Ltd., as the U.K. insurer posted a 14 percent rise in the value of new business for the first quarter.
Aviva, which completed the $8.6 billion takeover of its competitor in April, increased the value of new business, an indication of future profit, to 247 million pounds ($376 million), the statement showed Thursday. Aviva Investors received a 20 billion-pound boost as some Friends Life assets began to be transferred.
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