Aviva's nine-month insurance premiums rise on Direct Line deal, wealth unit growth
Nov 13 (Reuters) - British insurer Aviva AV.L reported a 19% rise in nine-month general insurance premiums on Friday, as strong growth in its UK personal lines business and wealth division underpinned a confident outlook for the rest of 2026.
Aviva's diversified model, spanning general insurance, wealth management and retirement, has helped it weather a choppy economic backdrop and integrate its £3.7 billion ($4.89 billion) acquisition of motor insurer Direct Line, completed last July
Its wealth net flows surged 31% to £10.9 billion in the nine months to September 30, while the group's undiscounted combined operating ratio, a key measure of insurance profitability, improved 0.6 percentage points to 93.8%
UK personal lines premiums drove much of the insurance growth, jumping 57% to £5.3 billion in the nine-month period, boosted by the Direct Line deal and a new home insurance partnership with Nationwide
Aviva's general insurance gross written premiums rose to £11.8 billion in the period from the £10 billion it reported last year
The company expects earnings per share to grow broadly in line with its 11% annual target
($1 = 0.7560 pounds)