Aviva has reported a 20% increase in operating profit to £1.77 billion, with its Insurance, Wealth & Retirement sales rising 22% to £43.5 billion. The company’s General Insurance premiums also saw a 14% growth to £12.2 billion. Notably, capital-light businesses contributed 56% of operating profit, with the acquisition of Direct Line expected to add to future growth.
Aviva’s UK & Ireland General Insurance business saw a 16% increase in premiums, driven by a 22% growth in personal lines. Canada General Insurance premiums rose 11%, despite being impacted by third-quarter catastrophe events. Protection & Wealth sales increased 42% following the AIG UK acquisition, while wealth net flows grew 23% to £10.3 billion. Retirement & Investments saw a 33% increase in sales to £9.4 billion, with Aviva Investors originating £3.2 billion in real assets.
Aviva’s CEO, Amanda Blanc, is confident in the company’s future growth, citing strong performance, market leadership, and the upcoming Direct Line integration as key drivers for 2025 and beyond. With 17 million customers in the UK, Aviva aims to serve a diverse range of customer needs through its insurance, wealth, and retirement products, driving growth throughout the business. Overall, Aviva’s results demonstrate a strong trajectory for the company, with significant opportunities for further growth and expansion.