Aviva grows operating profit 22% to £1.1bn in H1’25
British insurer Aviva has reported an operating profit of £1.1 billion in the first half of 2025, representing a 22% increase from £875 million in the same period a year earlier.
General insurance premiums increased 7% to £6.3 billion in H1’25 from £6 billion in H1’24.
By region, UK&I General Insurance premiums rose 9% to £4.1 billion from £3.8 billion, with an undiscounted combined ratio (CoR) of 94.5%, compared to 95.8% a year earlier. UK personal lines premiums grew 3% and commercial lines premiums grew 15%.
In Canada, General Insurance premiums were up 4% to £2.1 billion, with an undiscounted CoR of 94.7%. Canada personal lines grew 9%, while commercial lines premiums fell 3%.
Aviva posted an improved undiscounted combined ratio of 94.6% from 95.4%, and a discounted combined ratio of 90.4%, compared to 91.5%.
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Solvency II OFG was up 20% to £909 million from £758 million, and Solvency II OCG increased 33% to £957 million from £722 million.
Solvency II return on equity was 16.7%, compared to 12.4%, while IFRS return on equity was 20.6%, versus 14.8% a year prior.
Insurance, Wealth & Retirement sales increased 9% to £21.5 billion from £19.7 billion.
Solvency II shareholder cover ratio remained strong at 206%.
Amanda Blanc, Group CEO, said, “Aviva’s performance in the first half of 2025 was outstanding, growing operating profit by 22% and extending our track record of delivery. Another set of high-quality results, combined with excellent strategic progress, are further evidence of how we are pushing Aviva forward. This excellent performance allows us to achieve even more for our customers and our shareholders, and today we are increasing the interim dividend to 13.1 pence per share.
“Trading has been very good right across Aviva. We are the number one UK wealth player, with more than £200 billion of assets, and net flows are up 16%. In general insurance we remained disciplined, growing sales by 7%, and operating profit by 29%. Our general insurance operations now represent half of business unit operating profit. Our health business grew in-force premiums by 14% as more people and employers are attracted to the benefits of private medical insurance.
“We completed the acquisition of Direct Line at the beginning of July, just six months after our recommended offer, and integration is well underway. The combined business is a UK market leader with over 21 million customers, or 4 in 10 adults, and we are confident the deal will contribute significantly to Aviva’s future growth.
“Over the past five years we’ve transformed the performance and prospects of Aviva. Today we are the UK’s leading diversified insurer, with a strong track record of delivery, and an unwavering commitment to our customers. We are very well positioned to accelerate growth in the capital-light areas of wealth, health and general insurance, and deliver more and more for our shareholders.”
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