British insurer Aviva has announced its financial results for the first half of 2026, reporting Group operating profit of £1.326 billion, up 24% from £1.068 billion in H1 2025.
Total general insurance (GI) premiums increased 29% to £8.093 billion, up from £6.29 billion reported for the same period last year.
The Group’s undiscounted combined operating ratio (COR) improved to 93.3% in H1 2026, compared to 94.6% in H1 2025. On a discounted basis, the COR improved from 90.4% in H1 2025 to 89.5% in the first half of 2026.
The growth was largely driven by the UK&I general insurance business, which saw total premiums jump 42% to £5.91 billion, alongside an improved undiscounted COR of 93.4%.
UK personal lines premiums grew by 98% reflecting the acquisition of Direct Line and continued growth in Intermediated business.
In commercial lines, UK premiums were just 1% lower in the discrete quarter reflecting strong April renewals and continued discipline.
Meanwhile, Aviva’s Canada division posted a 3% rise in general insurance premiums to £2.183 billion, compared to H1 2025’s £2.149 billion, and undiscounted COR of 93.0%, compared to the 94.7% in H1 2025.
Personal lines premiums grew 4% driven by pricing actions across auto and property. Commercial lines premiums increased by 2% as growth in GCS was partly offset by the competitive rating environment.
Amanda Blanc, Group Chief Executive Officer, commented: “Aviva’s results in the first half of 2026 were very strong, with operating profit up 24% to £1.3 billion. We have now achieved six consecutive years of excellent financial performance, with much more to come. We also continue to deliver for our shareholders and today we have increased the interim dividend by 7% to 14.0 pence per share.
“We are making very good progress with the integration of Direct Line. We have quickly improved Direct Line’s profitability, grown price comparison website sales, and maintained excellent levels of customer service. We are well on track to deliver all the financial benefits of the acquisition.”
Blanc highlighted the company’s confidence in meet its three-year financial targets in 2028, expecting 75% of earnings to be capital-light by that point.
The executive continued: “Beyond this, Aviva is in a great position to sustain strong earnings growth over the longer term, particularly in the high growth areas of Wealth, UK and Canada General Insurance, Global Corporate and Specialty, and Health and Protection.
“Our broad and now expanded range of products, 25 million strong customer base, market leading brand, and the rich and extensive data we have, are major competitive advantages which will drive our future growth. Together they represent a significant opportunity for Aviva to apply artificial intelligence to deliver an even better service to customers, meet more of our customers’ needs over their lifetime, and drive even more value for our shareholders. Aviva’s long-term prospects are very bright indeed.”
