Shareholder update - December 2023

Chair's update

Dear Shareholder

I’m pleased to report another three months of good progress across all fronts at Aviva.

Our third quarter trading update once again told the story of strong growth and consistent performance, underpinned by our uniquely diversified business. We also made good strategic progress, with the acquisition of AIG’s UK protection business and Canadian vehicle replacement insurance business, Optiom both supporting our focus on capital-light growth.

Taken together, our momentum means a strong and resilient capital position, and we expect to beat our medium-term targets as a Group, living up to our commitments to you and to our customers.

At our trading update, Amanda referred to the work of our people here in the UK helping those affected by storms Babet and Ciarán and in Canada, following wildfires, hail, and flooding. I’d like to pay tribute to our claims teams and all those involved on the ground when our customers most need our help. They truly are living up to Aviva’s purpose to be ‘with you today’.

We are also working ‘for a better tomorrow’ and you can read below in our community updates about an exciting new investment in a state-of-the-art life science district dedicated to the research and treatment of cancer. The London Cancer Hub will deliver major social and economic benefits including 13,000 highly skilled jobs in health, science, education, and construction.

Thank you once more for your continued interest in and support for Aviva. I wish you all the best for the festive season.

George Culmer - Chair

Financial updates

Q3 2023 update

Amanda Blanc, Group Chief Executive Officer, said:

“Aviva has delivered nine months of strong growth. We have clear trading momentum, driven by our uniquely diversified business, as well as our leading positions in growing markets.

"I am extremely confident that Aviva will continue to deliver more for shareholders, and we reiterate our guidance for a total dividend of c.33.4p for 2023, and further regular and sustainable returns of surplus capital.”

Find out more - Aviva plc Q3 2023 Trading Update

2024 provisional financial calendar

Full year results 2023

7 March 2024*

2024 Annual General Meeting

2 May 2024*

2023 final dividend payment date

23 May 2024*

Trading update – first quarter 2024

23 May 2024*

Half year results 2024                                       

14 August 2024*

2024 Interim dividend payment date

17 October 2024*

Trading update – third quarter 2024

14 November 2024*

 * The dates are provisional and may be subject to change.

Business updates

Aviva to acquire AIG’s UK protection business.

On 25 September 2023, Aviva announced the acquisition of AIG Life Limited (“AIG Life UK”) from Corebridge Financial, Inc. (“Corebridge”), a quoted subsidiary of American International Group, Inc. (“AIG”). AIG Life UK provides a full suite of individual and group protection products, with 1.3m individual protection customers and 1.4m group protection members. The transaction builds upon Aviva’s momentum in the protection market, where Aviva has delivered strong organic growth through an award-winning business.

Read more – Aviva to acquire AIG’s UK protection business

Wealth In Focus investor and analyst briefing.

On 17 October 2023, Aviva held an investor and analyst briefing on our wealth business. Wealth is central to our strategy and plays a critical role in the Group. The wealth market presents significant opportunities for Aviva to generate sustainable, capital-light growth with an ambition to reach at least £250bn in assets and at least £280m in operating profit per annum in five years’ time.

Read more - Aviva plc investor and analyst briefing on wealth business

Aviva to acquire Canadian vehicle replacement insurance business, Optiom

On 27 November, Aviva announced the acquisition of Optiom O2 Holdings Inc (“Optiom”) from Novacap and other minority shareholders for consideration of c.£100m (c.CAD$170m, based on GBP/CAD spot rate of 1.72 as at 24 November 2023). Optiom, which operates as a managing general agent (“MGA”), is a leading provider of vehicle replacement insurance in Canada and offers flexible payment options to customers.

Read more - Aviva to acquire Canadian vehicle replacement insurance business, Optiom

Environment & community updates

Aviva Foundation – 2023 partners

The Aviva Foundation has announced three new grantees, funding organisations that help the financial resilience of those in need.

1.    Autistica: helping autistic people and families in the UK build financial resilience and wellbeing.

With the Foundation’s support, Autistica will be creating two moderated digital platforms: an ‘Everyday Tips Hub’ to support autistic people and their families and a ‘Professionals Hub’ to support organisations and professionals working with autistic people. The Hubs will host evidence-based and community-sourced resources and tools on key priority topics, including financial resilience, to empower autistic people and their families to develop financial skills and wellbeing; and support financial experts to better understand how to cater inclusively for autistic customers.

“Fewer than 3 in 10 autistic people in the UK are in full-time employment, yet over half experience difficulties accessing benefits. Because of this, they are more likely to experience poverty and less likely to have the means to develop financial resilience. We are incredibly proud to be working with the Aviva Foundation to develop an evidence-based response that will empower autistic people to develop financial skills and wellbeing, as well as help financial experts build more accessible and inclusive solutions.” Giorgia Molinari, Head of Corporate and Commercial Partnerships, Autistica

2.    Living Wage Foundation: growing the living wage in the North-East

The Aviva Foundation's funding will support the Living Wage Foundation to build a regional programme in the North-East. This project aims to increase the number of accredited Living Wage Employers in the North-East by 500 over three years.

“We’re delighted to have received this funding from the Aviva Foundation which will enable us to accelerate the growth of Living Wage employers in the North-East, an area with one of the highest levels of child poverty in the UK. Paying the Living Wage lifts workers and their families out of poverty and puts money into the local economy benefiting whole communities.” Jessica Brayne, Head of Membership, Living Wage Foundation

3.    Moneyline: improving financial resilience through trialling variable reoccurring payments.

Moneyline is a not-for-profit organisation, offering financial services to some of the lowest income households in the UK. Since 2002, they have issued over £100m in loans to 55,000 customers and have opened 28,000 savings accounts with over £13.5m in savings deposited.

With funding from Aviva Foundation, Moneyline will be trialling a new payment method for a segment of their customers who are often financially excluded, for whom Direct Debits often don’t work. Giving organisations more insight to flexible ways to pay should open the door to offering their products to a wider group of people and in turn reduce financial exclusion.

‘Moneyline are very excited to work with Aviva Foundation and be given the opportunity to trial an innovative new way to pay, that could lead to a reduction in financial exclusion. Many of our customers have limited access to products and services as Direct Debit payments don’t work for them. We hope our trial will show that we can be more inclusive by offering a payment system that works for complex financial circumstances’. Shiona Crichton, Chief Executive Officer, Moneyline

Aviva and Socius to develop a cancer research district.

On 02 October 2023, Aviva, and mixed-use developer Socius announced they have been selected as preferred bidder to advance the development of the world’s leading district for cancer research and treatment at the London Cancer Hub (LCH) in Sutton, London. Aviva and Socius will partner with landowner London Borough of Sutton, and work closely with the Institute for Cancer Research, London, the Royal Marsden NHS Foundation Trust, and Epsom & St Helier University Hospitals NHS Trust to create a state-of-the-art life science district dedicated to research and treatment of cancer. The London Cancer Hub will deliver major social and economic benefits including 13,000 highly skilled jobs in health, science, education, and construction.

Read more – Aviva and Socius to develop the world’s leading cancer research district in Sutton

Opening of Aviva Studios in Manchester

On 20 June 2023, Aviva, Manchester City Council and Factory International announced a long-term partnership which includes landmark support for Manchester’s iconic new arts and culture venue to be named Aviva Studios. The venue is predicted to add £1.1 billion to the economy of Manchester and the surrounding region over a decade. It will support up to 1,500 direct and indirect jobs and provide training and engagement opportunities for people of all ages and backgrounds. This investment will make a substantial contribution in making arts and culture more accessible and inclusive. The development of the venue is the largest investment in a national cultural project since the opening of Tate Modern in 2000, thanks to £106m of public funding from HM Government and Arts Council England, with additional backing from Manchester City Council.

Read more - Manchester’s iconic new cultural venue to be named Aviva Studios

Shareholder warning

Update on Share Fraud

We have had an increasing number of reports from shareholders that have received cold calls from overseas-based brokers offering to buy shares for more than they are worth, based on a supposed takeover bid for Aviva. The calls often claim to be from either Acquisition Corporation, Blue Water or EA Acquisitions. We have also received reports from shareholders regarding calls claiming to be from Aviva.

If the shareholder agrees to the sale, they will be asked to sign a non-disclosure agreement and post a bond for thousands of pounds. We are aware that at least one shareholder has been persuaded to send a bond for over three thousand pounds and then discovered that it was a scam.

What you should do -

If you receive any unsolicited investment advice:

  • Make sure you get the correct name of the person and organisation and make a record of any other information they give you, e.g. telephone number, address etc.
  • Report a scam or unauthorised firm at
  • Inform our Registrar, Computershare who  will record the details, pass them on to us, and liaise with the FCA.
  • If the calls persist, never provide any personal information, simply hang up and then block the number. These calls have not been arranged by either Aviva or our Registrar, Computershare, and are likely to be part of a scam.

Remember: if it sounds too good to be true, it probably is!

Register and feedback

We’ll share more shareholder updates in March, June, September, and December 2024. Register to get an email when these are available. Want to keep up to date with the latest Aviva news? Follow Aviva Plc on Twitter and LinkedIn for regular updates.

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