Aviva, a leading insurance company, has released its half-year results for 2025, showing a mixed performance across its various business segments. Despite a 16% drop in protection sales, the company reported growth in its other businesses, with insurance, wealth, and retirement (IWR) sales rising 9% to £21.5 billion. Operating profit also increased by 22% to £1.07 billion, with two-thirds of this profit coming from Aviva’s wealth, health, and general insurance operations.
The decline in protection sales was attributed to the consolidation of product lines following Aviva’s acquisition of AIG Life in 2024. Doug Brown, CEO of insurance, wealth, and retirement, explained that the company had anticipated this decline, as the consolidation of propositions would naturally lead to a reduction in sales. However, he noted that the value of new business had improved despite lower volumes.
On a more positive note, Aviva’s wealth division delivered a strong performance, with net flows increasing by 16% year-on-year to £5.8 billion. The company’s adviser platform saw significant growth, driven by strong inflows and retention, while direct wealth growth remained robust. Aviva also won 283 new workplace pension schemes, with member contributions reaching £1 billion per month.
Brown emphasized the importance of scale in delivering benefits for customers and advisers, allowing the company to invest in propositions and bring better outcomes for customers. He highlighted the launch of onshore bonds on the Adviser Platform, responding to adviser demand following inheritance tax changes. The company also saw strong performance in its retirement division, with individual annuity sales up 29% and significant growth in open-market volumes.
Overall, Aviva’s half-year results demonstrate the company’s ability to adapt to changes in the market and deliver growth across its various business segments. While the decline in protection sales is a setback, the company’s strong performance in its wealth and retirement divisions suggests a positive outlook for the future. With its focus on innovation and customer outcomes, Aviva is well-positioned to continue delivering benefits for its customers and advisers.