Aviva posts strong growth across protection and wealth in H1 results

In wealth, net flows increased 32% to £7.6bn and assets under management rose 25% to £261bn. 

Aviva Investors recorded total net flows of £1.5bn.

Amanda Blanc, group CEO at Aviva, said: “Aviva’s results in the first half of 2026 were very strong, with operating profit up 24% to £1.3 billion. 

“We have now achieved six consecutive years of excellent financial performance, with much more to come. 

“We also continue to deliver for our shareholders and today we have increased the interim dividend by 7% to 14.0 pence per share.”

Blanc added: “We are making very good progress with the integration of Direct Line. 

“We have quickly improved Direct Line’s profitability, grown price comparison website sales, and maintained excellent levels of customer service. 

“We are well on track to deliver all the financial benefits of the acquisition.”

She said: “We are confident that we will meet our three-year financial targets in 2028 and expect 75% of our earnings to be capital-light by that point. 

“Beyond this, Aviva is in a great position to sustain strong earnings growth over the longer term, particularly in the high growth areas of Wealth, UK and Canada General Insurance, Global Corporate and Specialty, and Health and Protection.

“Our broad and now expanded range of products, 25 million strong customer base, market leading brand, and the rich and extensive data we have, are major competitive advantages which will drive our future growth.”

She added: “Together they represent a significant opportunity for Aviva to apply artificial intelligence to deliver an even better service to customers, meet more of our customers’ needs over their lifetime, and drive even more value for our shareholders. 

“Aviva’s long-term prospects are very bright indeed.”

Doug Brown, CEO of insurance, wealth and retirement at Aviva, said: “We have delivered another set of excellent results across the insurance, wealth & retirement business with particularly strong trading momentum in Wealth, where customer numbers have grown to 5.9 million.

“Net flows for Wealth were up 32% year-on-year to £7.6 billion, driven by continued growth in both Workplace and Platform. 

“Assets under management grew to £261 billion and as the number one player in a market set for growth, we are on track to deliver our £280 million operating profit ambition for Wealth next year.”

Brown added: “Workplace net flows increased 36% year-on-year, benefitting from further growth in regular contributions and significant inflows from newly onboarded schemes – including the first tranches of Mercer Master Trust transitions.

“Our Platform business has performed strongly, with strong trading on the Adviser Platform and excellent sales of our Onshore Bond driving net flows up 23% to £2.9 billion. 

“We also continued to see customer growth in Direct Wealth.”

He said: “In Retirement, Individual Annuity sales increased 11% to £865 million as customer demand in the high-interest rate environment continues, and BPA traded well in a competitive market, transacting £1.9 billion year-to-date. 

“Proposition developments have contributed to growth in Equity Release sales, up 19% to £193 million.

“In Insurance, an increasing focus on employee protection and wellbeing from corporate clients helped sales in Protection reach £173 million.”

He added: “Despite a market slowdown, Health sales were at £51 million, with in-force premiums up 5% and a low-90s combined operating ratio.

“We expect to see growth in the insurance, wealth & retirement business to continue through the second half of the year as we invest further in our capital-light businesses.”