Aviva has reported general insurance premiums of £3.4bn in the first quarter of 2026 (Q1 2026), up 19% from £2.9bn a year earlier.
In UK and Ireland (UK&I) general insurance, premiums rose by 26% to £2.5bn from £2bn.
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The increase was driven by a 59% rise in personal lines, reflecting the inclusion of Direct Line and growth through intermediaries. Commercial lines premiums fell by 7%, with the rating environment weighing on performance, partly balanced by strong retention.
In Canada, general insurance premiums edged up 3% in constant currency to £900m.
Personal lines increased by 4%, supported by rate changes, while commercial lines rose by 1% following scheme wins in global, corporate & specialty, although market pricing conditions limited growth.
Across the group, the undiscounted combined operating ratio improved by 2.5 percentage points to 94.1%. The discounted combined operating ratio was 90%, compared with 92.9% in the same period last year.
The insurer’s protection sales were £88m, down 2% from £89m.
Growth in group protection was offset by a decline in individual protection, which had been supported in the prior period by stronger demand before stamp duty changes.
Health in-force premiums were 9% higher, while the health business remained at a low-90s combined operating ratio.
Health sales dropped 31% to £25m from £37m, reflecting weaker demand in consumer and small and medium-sized enterprise segments.
Retirement sales totalled £1.1bn, compared with £1.8bn a year earlier.
Within that, individual annuities sales increased by 10% and equity release sales rose by 8%.
Bulk purchase annuities volumes stood at £600m, down from £1.3bn, as the group kept pricing discipline in what it described as a competitive market.
The insurer said it expects to deliver more than £350m of capital synergies from Direct Line by the end of the year, on top of around £150m delivered at the end of 2025.
Aviva said it remains on course to meet its group targets, including operating earnings per share growth of 11% compound annual growth rate for 2025–28; International Financial Reporting Standards return on equity above 20% by 2028; and cumulative cash remittances of more than £7bn from 2026–28.
Aviva completed the acquisition of Direct Line Group on 1 July 2025. The Q1 2026 figures include Direct Line within the Personal Lines business in UK&I general insurance.
