We’re simplifying Aviva into an international savings, retirement and insurance business for our 33.4 million customers. To that end, we are organised into five operating divisions.
Investments, Savings and 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 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.
in UK Workplace Pensions by Assets Under Administration
Aviva Investors' assets under management (FY19)
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, underwriting, asset-liability management, scale efficiencies and also has access to Aviva Investors’ solutions.
market position in individual annuities
market position in individual and group protection
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 sustainable profitable growth through improving speed, simplicity and efficiency for our customers, and our distribution partners.
market position in the UK
average combined operating ratio (COR)
Europe Life operates in France, Italy, Poland, Ireland and Turkey. It offers a range of insurance savings, investment and protection products to customers who want to make the most of their money, and plan for the future and protect against the unexpected.
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.
customers across five countries
policyholder reserves (average FY19)
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. It operates a profitable portfolio across protection and savings products.
contributed by our Singapore business to Asia’s total value of new business.
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 partner in relation to our business in Vietnam.
On 6 March 2020 we announced our agreement to sell our business in Indonesia to our joint venture partner, PT Astra International Tbk.