Earnings Doc – InsuranceNewsNet


Information Launch

18 Might 2022

Aviva plc Q1 2022 Buying and selling Replace

Continued progress and buying and selling momentum throughout Life and Common Insurance coverage

Robust and resilient capital place, with capital retuto be accomplished by finish of Might

On observe to fulfill upgraded targets outlined at FY 2021


Annuities & Fairness

UK & Eire Life

Common Insurance coverage

Solvency II







Internet flows, 7%1 of

Gross sales2 +22%

Gross sales2 +2%

GWP +5%

Professional forma3 cowl ratio

opening AuM

Q121: £2.9bn

Q121: £1.0bn

Q121: £8.3bn

Q121: £2.0bn

FY21: 186%

Amanda Blanc, Group Chief Government Officer, stated:

“First quarter buying and selling was optimistic, and our efficiency exhibits the clear good thing about Aviva’s enterprise combine throughout insurance coverage, wealth and retirement. We delivered wholesome gross sales numbers throughout all our main enterprise strains, with UK buyer numbers up by over 100,000 within the final 12 months to fifteen.4m, growing our confidence that we will rework Aviva’s efficiency and develop.

UK & Eire Life gross sales are up 2%, and internet flows into our Wealth enterprise remained robust at £2.7 billion, regardless of market volatility. Our Advisor platform is now the primary out there for internet flows, and in Annuities and Fairness Launch we noticed elevated bulk buy annuities volumes, written with good returns.

“Now we have additionally continued our momentum in Common Insurance coverage the place we had our greatest first quarter gross sales in a decade, as extra folks have been interested in the energy of the Aviva model and the standard of our merchandise. Whole Common Insurance coverage gross sales have been up 5% to over £2 billion, pushed by robust gross sales in industrial strains in each the UK and Canada.

“We stay very properly positioned to profit from the long run progress developments in our markets, and to fulfill our upgraded monetary targets. That is underpinned by our robust capital place which advantages from rising rates of interest. Our monetary energy and market management give us confidence that we will efficiently navigate the present unsure financial circumstances.”

Continued progress in Life gross sales2 and report Q1 Common Insurance coverage premiums

  • UK&I Life gross sales of £8.4bn, up 2% (Q121: £8.3bn) with progress in Annuities & Fairness Launch and Safety & Well being partly offset by Wealth.
  • Whole BPA gross sales in Q1 have been £843m, up 29%, with a wholesome pipeline weighted in direction of the second half of the 12 months.
  • UK&I Life worth of latest enterprise (VNB) £144m, up 31%, and VNB margin of 1.7% (Q121: 1.3%), pushed by Annuities & Fairness
    Launch VNB of £31m (Q121: £nil).
  • Common Insurance coverage gross written premiums (GWP) up 5% in Q1 to £2.1bn, one other report. UK&I GI GWP up 3% to £1,347m and Canadian GI GWP up 10% to £753m.
  • GI mixed ratio (COR) of 96.4% (Q121: 90.6%) reflecting £70m price for the February storms in UK GI and extra regular motor claims frequency.

1 Q1 internet flows annualised as a share of opening belongings underneath administration

  • References to gross sales symbolize current worth of latest enterprise premiums (PVNBP) which is an Different Efficiency Measure (APM). Additional data could be discovered within the ‘Different data’ part of the Full 12 months 2021 Outcomes announcement.
    3 Professional forma for additional debt discount of £500m over time and pension scheme cost, and after the influence of the acquisition of Succession Wealth. Precise Q1 Solvency II cowl ratio is 205% (FY21: 244%). * The monetary data for comparative durations on this buying and selling replace seek advice from persevering with operations solely.

Aviva plc Q1 2022 TRADING UPDATE



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