Aviva’s General Insurance premiums rose 12% to £10bn, over the first 9 months, driven by 17% growth in UK & Ireland helped by the inclusion of Direct Line. Wealth net flows were up 8% to £8.3bn, Health premiums rose 14%, and Retirement sales fell 27% to £5.3bn.
The Solvency II shareholder cover ratio, a measure of balance sheet strength, fell to 177%. That was in line with guidance, following the Direct Line acquisition. Capital synergies of over £0.5bn (a 10% increase to Solvency II) are expected by the end of 2026.
The interim dividend was increased by 10% and buybacks are expected to resume in March 2026.
Aviva is now expecting full year operating profit of around £2.2bn (previously £2.0bn by 2026 ). New medium-term targets include 11% annualised growth in operating earnings per share through 2025-28.
The shares fell 3.0% in early trading.
Our view
HL view to follow.
Aviva key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.