Our markets

Our 'Major Markets' and 'Strategic Investments' categorisation shows how our markets and business lines contribute to Aviva's overall portfolio, either now or in the future.

We have significantly simplified and focused our geographic footprint over recent years, halving the number of  markets in which we have operations.

This process is now complete and we are no longer actively seeking to reduce our geographic footprint. As a result, Aviva’s core business now comprises "major markets" and "strategic investments".

Major markets:  solid growth, sustainable cash

These markets have structural drivers of demand underpinned by economic growth, demographics and regulation. Within these markets, Aviva has competitive strength in distribution, brand, capability and scale efficiency that allows us to deliver consistent growth and attractive returns.

We are focused on eight attractive, growing markets where we are, or have the potential to the best in class. It is these businesses which will underpin the cash flow plus growth strategy. Our major markets are:

  • UK – we are the number one composite insurer providing a core growth engine and high levels of sustainable cash flow
  • France – a cash generator underpinned by strong distribution
  • Canada – we have a leading general insurance franchise with attractive cross-cycle returns
  • Poland – a high return business with strong distribution
  • Italy – a rebounding economic opportunity providing strong net flows
  • Ireland – a leading brand in a growth economy with accelerated development of the composite  insurance model
  • Singapore – we have an innovative strategy to accelerate development of the financial adviser channel in an attractive growth market
  • Aviva Investors – a growth engine, underpinned by increasing third party assets and delivering rising income and falling costs.
Major markets: targeting above mid-single digit growth from 2018
Our ambitions in Aviva's eight major markets click to expand

Strategic investments:  future, fast growth

We have made a number of strategic investments which will accelerate growth and provide increased value over the long-term. These businesses are targeting long-term growth by working with leading local partners in populous countries with strong growth characteristics. 

While, in aggregate, these businesses make a modest contribution to Aviva’s financial performance today, they are sources of long-term upside for Group adjusted operating profit1, cash-flow and value.

Our strategic investments are:

  • Digital – leading intellectual property (IP) being rolled out across our markets
  • China – delivering strong growth in sales and adjusted operating profit in one of the world’s largest insurance markets
  • Hong Kong – a joint venture with Tencent and Hillhouse focussed on digital disruption
  • Turkey – a leading position in the life and pensions market and exposure to a large, young and growing population
  • Indonesia – a bancassurance venture in an under-penetrated, high-growth emerging market
  • India – we are reassessing our options given changes in market fundamentals
  • Vietnam – a leading business in one of the fastest-growing Asian economies
  • Global Corporate Solutions (GCS) – selective expansion provides a natural extension to our existing strength in retail and commercial lines.
Our Strategic investments support Aviva's long-term growth
An overview of Aviva's Strategic investments markets - click to expand
1 Group adjusted operating profit is an Alternative Performance Measure (APM) which is used by the Group to supplement the required disclosures under IFRS. Please refer to note B in the ‘Accounting Policies’ section, note 4 ‘Segmental Information’ and ‘Other Information’ within the Annual Report and Accounts for further information.