Aviva Insurance Limited
PO Box 4 Surrey Street Norwich NR1 3NG
+44 (0)1603 622200
  • About Aviva

    Aviva Insurance Limited is one of the UK’s leading insurance companies, part of the Aviva group with 34 million customers Worldwide. Aviva Insurance has been in the insurance business for more than 300 years.  In UK commercial, the insurance market remains challenging for insurance brokers and customers, due to the ongoing economic conditions. Aviva Insurance are focusing on improving our processes to ensure Aviva provide commercial customers with insurance cover at an acceptable price.  Insurance brokers also recognised our excellent customer service by voting us Insurance Times General Insurer of the Year in 2012, for the second year running.  youTalk-insurance sharing Aviva insurance news and video.

Aviva plc announces 2018 preliminary financial results


Sir Adrian Montague, Chairman, said:

"Aviva made steady progress in 2018. We grew profits, had a record year for cash remittances and further increased our solvency cover ratio to 204%. As a result, the Board has increased the full year dividend by 9% to 30.0 pence per share.

"Our key profit measure, operating earnings per share, is up 7%. Just under half our earnings growth is due to higher profits from our major businesses, with the rest of the increase due to our ordinary share buy-back, debt reduction and a higher net contribution from longevity and assumption changes.

"We increased profit in the UK, where we won more workplace pension schemes and bulk annuity deals, and across our international businesses, where we expanded and diversified our distribution. Aviva Investors had a more challenging year due to difficult investment markets and we have continued to invest in our asset management expertise.

"Looking forward, our capital management plan will prioritise debt reduction for the foreseeable future. We plan to reduce debt by at least £1.5 billion by the end of 2022, saving approximately £90 million per year in interest expenses. This builds on the £1.4 billion of debt repaid over the past two years and will further enhance our financial flexibility.

"The security and sustainability of our dividend remains paramount. We are moving to a progressive dividend policy, which will see the dividend maintained or grown over time depending on business performance and growth prospects.

"We recently announced the appointment of Maurice Tulloch as Chief Executive. Under Maurice’s leadership, we are confident that we can make Aviva a better business for the benefit of our customers and our shareholders."

Maurice Tulloch, Chief Executive Officer, said:

"I am excited to be taking over as CEO of Aviva. We have strong foundations but we are only scratching the surface of our full potential. There’s a huge opportunity here. At the heart of it, it’s all about insurance fundamentals, delivering excellent customer experience, tackling complexity and injecting a different pace of change into Aviva. And that will be just the start. I am determined to re-energise Aviva and deliver long term growth for our shareholders."


  • Operating EPS2 up 7% to 58.4 pence (2017: 54.8 pence)
  • Operating profit1 up 2% to £3,116 million (2017: £3,068 million)
  • IFRS profit after tax up 2% to £1,687 million (2017: £1,646 million)


  • Final dividend per share 20.75 pence
  • Total 2018 dividend per share 30.0 pence (2017: 27.4 pence)


  • Solvency II capital surplus £12.0 billion (2017: £12.2 billion) Solvency II cover ratio 204% (2017: 198%)
  • Operating capital generation# £3.2 billion (2017: £2.6 billion)
  • IFRS net asset value per share 424 pence (2017: 423 pence)


  • Cash remittances up 31% to £3,137 million (2017: £2,398 million)
  • UK Insurance special remittance £1,250 million (2017: £500 million)
  • Holding company liquidity £1.6 billion5 (2017: £2.0 billion)
  • Cash deployed on debt reduction and share repurchase programme £1.5 billion (2017: £0.8 billion)


  • Value of new business (VNB) down 3% to £1,202 million (2017: £1,243 million). Excluding the impact of divested businesses, VNB grew 2%
  • General insurance net written premium stable at £9,114 million (2017: £9,141 million)
  • General insurance combined operating ratio‡ stable at 96.6% (2017: 96.6%)
  • Longevity reserve releases £780 million (2017: £779 million)
  • Operating expenses3 up 7% to £4,026 million (2017: £3,778 million)
  • Integration and restructure costs held to zero (2017: £141 million)
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