Since 2020, CEO Amanda Blanc has restructured Aviva, focusing on core markets and wealth management to drive growth and improve investor returns.
Key facts
- •Aviva is the second-largest insurer in the U.K. by market value and serves nearly 22 million customers.
- •CEO Amanda Blanc has overseen a £10 billion return of capital to investors since taking office in 2020.
- •The company acquired Direct Line in December 2024 for £3.7 billion to expand its U.K. motor insurance presence.
- •Aviva's wealth management division is expected to contribute 10% of total earnings following the acquisition of Succession Wealth.
- •Aviva shares have increased by approximately 150% since Blanc's appointment.
Aviva, the U.K.'s second-largest insurer by market value, has undergone a significant corporate turnaround since Amanda Blanc became CEO in July 2020. Blanc streamlined the company by selling eight businesses and focusing on core operations in the U.K., Canada, and Ireland. The company has since returned £10 billion to investors, including dividends, and expanded through acquisitions like Direct Line and Probitas.
By the numbers
Strategic Restructuring and Acquisitions
Blanc raised approximately £8 billion through the disposal of international businesses in markets including France, Italy, and Poland. Following this rationalization, the company prioritized growth, acquiring Direct Line for £3.7 billion in December 2024 to secure a fifth of the U.K. motor insurance market. Additionally, the £242 million acquisition of Probitas in March 2024 marked Aviva's return to the Lloyd's of London market.
Focus on Wealth Management
Aviva is targeting the U.K. wealth market, which it expects to grow from £2.7 trillion to over £4 trillion by 2030. To capture pension and heritage assets that previously moved to rivals, the company acquired Succession Wealth for £385 million in 2022. Wealth management is expected to account for one-tenth of the company's earnings.
Market Performance and Outlook
Aviva shares have risen approximately 150% during Blanc's tenure. Analysts expect the company to report first-half operating profits of around £1.3 billion, a 17.5% increase compared to the same period last year. Despite this, some shareholders have raised concerns regarding the performance of certain investment funds and the long-term impact of autonomous vehicles on motor insurance.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CNBC Europe.
