Aviva is in great shape according to CEO Blanc
Aviva reported a 20% increase in operating profit to £1.77 billion, with Insurance, Wealth & Retirement sales rising 22% to £43.5 billion. General insurance premiums grew 14% to £12.2 billion.
Capital-Light Focus and Direct Line Acquisition
Capital-light businesses contributed 56% of operating profit, with the Direct Line acquisition expected to add further growth. The deal remains on track for completion by mid-2025.
Continued Business Momentum
- UK & Ireland GI: Premiums up 16%, driven by 22% growth in personal lines.
- Canada GI: Premiums up 11%, though COR impacted by Q3 catastrophe events.
- Protection & Wealth: Protection sales rose 42% following the AIG UK acquisition, while wealth net flows grew 23% to £10.3 billion.
- Retirement & Investments: Retirement sales up 33% to £9.4 billion, with Aviva Investors originating £3.2 billion in real assets.
CEO Amanda Blanc emphasized Aviva’s transformation and confidence in future growth, citing strong performance, market leadership, and the upcoming Direct Line integration as key drivers for 2025 and beyond.
“We now have 17 million customers in the UK – more than any other insurer – and with our diverse range of products across insurance, wealth, and retirement, we’re serving more customer needs, which is fuelling growth throughout the business.” – Blanc.
