Our strategy

We have set the foundations for the next phase of our strategy

We are the UK’s leading Insurance, Wealth and Retirement business, helping 18.5 million customers across our core markets of the UK, Ireland and Canada

Unique market strength

We are the leading UK provider of insurance, wealth and retirement solutions, with strong franchises in Canada and Ireland. Our businesses are of high quality, with strong positions across all of our segments. Our diversified ‘One Aviva’ model drives our competitive advantage. It allows us to serve customers across the full range of their needs, building lifetime relationships. On top of this, we can deploy our leading brand across multiple segments. One Aviva also provides us with synergies between our business lines. For example, we use our in-house asset manager, Aviva Investors, to source real assets for our UK Life business. We also generate substantial capital diversification benefits and have a natural diversification of earnings.

Profitable growth opportunities

Our diversified model means we are well placed to capitalise on the structural growth opportunities in our markets. For example, around one in every four people in the UK will be over 65 by 2039. With over 13% of the UK population already saving and retiring with Aviva, we are strongly positioned to capture the retirement opportunity. The £30-50 billion per annum of corporate balance sheet de-risking is another structural trend we are focused on. As one of the UK’s leading bulk purchase annuity writers, we stand to capture a significant portion of this growth market over the coming years. To ensure our growth is profitable, we will aim to operate at top-quartile cost efficiency across all of our businesses.

Sustainable cash generation

The combination of our unique market strength and our focus on profitable growth opportunities means we are well-placed to deliver sustainable cash generation for our shareholders and other stakeholders over the long-term. This sustainable cash generation will in turn underpin an attractive and secure dividend, as well as enable us to reinvest in the business to drive further value creation. We believe this makes for a compelling investment case for Aviva.

Strategic priorities


Targeted growth capitalising on the structural opportunities across Insurance, Wealth, Retirement Solutions & BPA.


Powering up the Aviva brand, building engaging customer experience, and leading with customer-centric innovation.


Simplifying and transforming our cost base and working towards top quartile efficiency for all businesses.


Delivering on our market leading commitments across Climate Champion, Stronger Communities and Sustainable Business.

Group targets:

Cash remittances: >£5.4 billion cumulative cash remittances (2022-2024). 

Solvency II operating own funds generation: £1.5 billion per annum by 2024. 

Controllable costs savings: c.£750 million 2018-24 gross of inflation.

Watch our Group CEO, Amanda Blanc’s third quarter 2022 trading update video

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Kofi Eschoe-Wilson

Hi, Amanda. Good morning. How are you doing today?

Amanda Blanc

I am good, Kofi. How are you?

Kofi Eschoe-Wilson

Yes, I'm good. Aside from the train discourse, I'm here. It's a bright morning so I'm raring to go.

Amanda Blanc

Well it's really fantastic to see you here. Normally I see you on a screen somewhere, so it's fantastic that you're in the office.

Kofi Eschoe-Wilson

Thank you for talking to me today about our third quarter trading. Have we made any good progress since our half year results?

Amanda Blanc

We have made good progress. Despite the fact that we've seen quite a lot of political and economic volatility, particularly here in the UK. Actually Aviva this morning has confirmed some brilliant results I think. What you see from this morning's results is a real benefit of our diversified business model.

So, we've got strong growth in a number of areas. And we're also reconfirming our dividend

and capital returns plans that we laid out in March and August. So all in all another strong

quarter for Aviva.

Kofi Eschoe-Wilson

Thank you, Amanda. At half year we talked a lot about our strategic priorities, how are we doing against them at quarter three?

Amanda Blanc

So we're making good progress against our four priorities.

So let's start with customer. Obviously customer is at the heart of everything that we do at Aviva and we've been thinking a lot about how we can help our customers during this difficult time. So we've launched some more affordable propositions from motor and home

and we're really pleased with that and we're seeing really good uptake

of those products. So that's clearly landing with customers which is really great news. I'm also incredibly proud of the partnerships that we've created with Citizens Advice and also the Money Advice trust which is £9 million of investment to help customers and businesses through what is obviously going to be an incredibly difficult time.

Our second priority is growth. And we've seen strong growth in Wealth, Retirement and Insurance. I'm particularly pleased about growth in some of the key areas for us. So net flows, particularly in our Workplace pensions business. We've seen strong growth in Health and Protection and also in our Commercial Lines business in Canada and in the UK.

We've also completed the acquisition of Succession Wealth and that really helps our growth

in the wealth business because it gives us really high-quality advice that our customers we believe need.

So our third priority area is obviously around efficiency and we are on track to deliver the £750 million gross of inflation efficiency targets that we put in place in March of this year by 2024. There has been good progress around cost reduction across all areas of the business and particularly Aviva Investors have made some excellent progress in the last quarter announcing a significant outsourcing deal.

So I think bearing in mind the difficult environment that we're in we've made great progress here.

And finally on sustainability. We've been awarded number one European financial institution for the new world Benchmarking Alliance Financial System Benchmark.

Obviously we've got a strong history in ESG but that is a real benchmark and a real opportunity for us to play an important part in this important topic, which is something

I'm incredibly proud of.

Kofi Eschoe-Wilson

Thanks, Amanda. And finally are you optimistic about 2023?

Amanda Blanc

I am optimistic because I think what you've seen in the last quarter is that our trading

has been very positive. The third quarter numbers are strong. We're under no illusions that the backdrop is clearly very difficult economically, but we are really confident in the outlook

for Aviva.

We believe that we can excel and deliver on the promises that we have laid out. Our position is strong. Our model is resilient. And we're delivering on the strategy.

Kofi Eschoe-Wilson

Any messages to colleagues as we come to the end of the year?

Amanda Blanc

I have. What I would say is look at what we've achieved so far this year. Really strong results despite everything else that is going on.

We've got great performance across all of our key areas: growth, customer, efficiency and sustainability. I would say to them keep going to the end of the year.

I know it's hard work, but look at what we have achieved so far, there's so much more that could be done.

And I would just also want to say obviously, thank you.

Kofi Eschoe-Wilson

Fantastic, thanks a lot for your time today.