Our business

How we’re organised

We’re simplifying Aviva into an international savings, retirement and insurance business for our 33 million customers. To that end, we are organised into five operating divisions.

Investments, Savings and Retirement

Woman and child counting money
We help people save for retirement.

Helping people save for enough income in retirement is one of the biggest challenges facing our communities. We’re taking on that challenge, building on our expertise from across the group to provide the first combined savings and retirement business in the UK.

This division brings together our global asset manager, Aviva Investors, and our modern UK workplace and platform savings business.

By looking after all stages of our customers’ saving and retirement needs, as well as serving institutional asset management clients, this business is well positioned for long-term growth.

It has 3.5 million customers, scale of assets and strong relationships with businesses and financial advisers. It also draws on a strong track record in investment expertise, in particular in the area of responsible investing.

#1

in UK Workplace Pensions by Assets Under Administration

£346bn

Aviva Investors' assets under management (HY19)

UK Life

Our UK Life business offers annuities and equity release products. It provides protection and health products for both individual customers and for businesses that want to support the physical, mental and financial health of their employees. The division benefits from leading scale across life products. It has strong capabilities in data analytics, capital management and underwriting.

Our strategy is to capitalise on these strengths and leading market positions to generate significant levels of cash-flow to fund a sustainable group dividend. UK Life will also reinvest in profitable new business to increase cash-flows over the long-term.

#1

market position in individual annuities

#2

market position in individual and group protection

General Insurance

Child and doll house
We help people protect their property and possessions.

The General Insurance division helps individuals and businesses protect their property and possessions. It offers a range of products from covering your home and car, your pet or next holiday to insuring your business against flooding or cybercrime.

We provide general insurance in the UK, Canada, Europe and Singapore, offering best in class underwriting and customer service. The division has a strong distribution network and outstanding capabilities in data and analytics, digital offerings and claims and risk management.

We are targeting profitable growth through speed, simplicity and efficiency for our customers, and our distribution partners.

#2

market position in UK, Canada and Ireland

96%

average combined operating ratio (COR) since 2010

Europe Life

Europe life works in France, Italy, Poland, Ireland and Turkey. It offers a range of savings and investments products to customers who want to make the most of their money and plan for the future.

It benefits from a diverse distribution network and a strong operational track record. We will continue to focus on the fundamentals of distribution, product mix and cost efficiency to improve our performance. 

By continuing to move towards capital efficient products, simplifying our service and expanding distribution we will further improve the performance of our Europe business.

7mn

customers across five countries

£115bn

policyholder reserves (average FY18)

Asia Life

Our businesses in Singapore and China are there to help our customers meet their saving and insurance needs. They are profitable businesses, delivering attractive growth and generating positive cash-flows.

Our Singapore business is the market leader with financial advisers and is second place for employee benefits. It operates a profitable portfolio across protection and savings products.

Our business in China offers high growth prospects due to the potential market scale and our relationship with our partner COFCO.

#2

in employer benefits

leader

in Financial Advisory channel

On 20 November 2019 we announced our agreement to sell our stake in our Hong Kong joint venture, Blue, to our partner Hillhouse Capital. We are in discussions with our partners in relation to our business in Vietnam and joint venture in Indonesia.

Our markets.

Download our capital markets day presentation