London · Delayed Price · Currency is GBP · Price in GBX Aviva Earnings Call Transcripts
Fiscal Year 2026
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Strong Q1 growth with general insurance premiums up 19% and Wealth net flows up 49% year-over-year. Direct Line integration is on track, with improved profitability and capital synergies expected by year-end. Solvency remains robust at 171%.
Fiscal Year 2025
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Delivered strong growth with operating profit up 25%, EPS at 56p, and a 10% dividend increase. Achieved 2026 targets early, raised ambitions, and advanced Direct Line integration, with robust performance across all segments and continued investment in AI and efficiency.
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Q3 saw double-digit profit growth, improved combined ratios, and strong capital generation. New three-year targets include 11% EPS CAGR, >20% ROE by 2028, and over GBP 7 billion in cash remittances, with Direct Line integration driving higher cost and capital synergies.
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First-half 2025 saw strong growth in profit, capital, and customer metrics, with operating profit up 22% and a 10% dividend increase. The Direct Line acquisition is progressing well, supporting further growth and capital synergies.
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Premiums and profits grew across all segments, with strong capital and liquidity positions maintained. Weather-related claims impacted Ireland and Canada, but underlying performance and outlook remain robust, supported by disciplined pricing and strategic acquisitions.
Fiscal Year 2024
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Full-year 2024 saw 20% operating profit growth, strong capital position, and robust segment performance across insurance, wealth, and retirement. The proposed Direct Line acquisition is set to accelerate growth and enhance shareholder returns, with continued focus on efficiency and digital innovation.
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A £3.7 billion acquisition of DLG will create a UK personal lines leader, delivering at least £225 million in cost savings and 10% EPS accretion. The deal is capital-light, enhances shareholder returns, and is expected to close mid-2025, with integration focused on operational efficiency and customer benefits.
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Strong double-digit growth in General Insurance, Wealth, and Retirement, with robust capital and liquidity positions. Despite record CAT losses in Canada, underlying performance remains solid, and the group maintains confidence in meeting medium-term targets and capital-light growth ambitions.
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Customer numbers and engagement are rising, driven by digital innovation, cross-selling, and a focus on multi-policy holders. Enhanced digital capabilities, including the new MyAviva app and data-driven marketing, support growth and efficiency, while product innovation and operational improvements underpin confidence in meeting financial targets.
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Strong H1 results with 14% operating profit growth, robust capital position, and double-digit gains in GI, wealth, and retirement. Capital-light business mix is accelerating, with continued investment in digital and M&A. Dividend up 7% and share buybacks ongoing.