Aviva, a leading insurance company, has announced that it will be closing down Direct Line Group’s (DLG) By Miles, a pay-as-you-drive motor insurance provider. This decision follows a strategic review of Aviva’s businesses after it acquired DLG earlier this year. As a result of the closure, Aviva expects to cut 62 roles, with the reduction being phased throughout 2026. The company has stated that it will work to support those affected by the job losses, including exploring other opportunities within the wider group.
By Miles was acquired by DLG in April 2023, and at the time, it had sold over 100,000 policies and was writing £26m of gross written premium (GWP). However, after Aviva’s acquisition of DLG, the company undertook a strategic review, which led to the decision to divest from By Miles. The closure of By Miles is part of Aviva’s efforts to achieve cost savings and role reductions, which were announced when it acquired DLG.
Aviva has stated that the reduction in roles will be phased to ensure that customers continue to receive service until the end of their policy. The company is committed to supporting those affected by the job losses and is exploring alternative opportunities within the group. The decision to close By Miles is a strategic one, and Aviva believes it is necessary to achieve its business goals.
The closure of By Miles and the resulting job losses are a significant development in the insurance industry. Aviva’s decision to divest from By Miles highlights the company’s focus on achieving cost savings and streamlining its operations. As the insurance industry continues to evolve, companies like Aviva must make tough decisions to remain competitive and achieve their business objectives. The phased reduction of roles will help to minimize the impact on customers and employees, and Aviva’s commitment to supporting those affected is a positive step. Overall, the closure of By Miles is a significant development in the insurance industry, and its impact will be closely watched in the coming months.