Top 100 UK Insurers 2024: Aviva
Aviva Insurance Limited is ranked number 1 and Aviva International Insurance Limited is ranked number 2 on the Top 100 UK Insurers 2024 list.
Aviva Insurance Limited
UK brands
Aviva, Aviva Online, Aviva Zero, Quote Me Happy, General Accident, Probitas.
Aviva also own Solus, the nationwide network of vehicle damage repair centres, and offers a range of insurance services through bancassurance partners.
Key product lines
In the UK, Aviva is well known for being a personal lines insurer, offering car, home and travel insurance.
The provider also specialises in high net worth insurance and commercial insurance, with a product offering including cyber, property, financial lines and speciality.
Year established
Aviva can trace its heritage back to the late 17th century.
The company’s earliest constituent, the Hand in Hand, was founded at Tom’s Coffee House in St Martin’s Lane, London, on 12 November 1696.
Established as a mutual society, the company was once the world’s oldest existing fire insurance office.
It was a forerunner of the modern co-operative system. The Hand in Hand was acquired by Commercial Union in 1905.
Aviva itself was established on 1 July 2002, following a merger between CGU and Norwich Union.
Head office address
80 Fenchurch Street, London, EC3M 4AE.
Group CEO
Dame Amanda Blanc.
UK GI CEOs and/or managing directors
Jason Storah, UK & Ireland General Insurance CEO.
Number of UK employees
18,000.
Q&A with Jason Storah, CEO of Aviva UK & Ireland General Insurance
What has been the biggest challenge your company has faced in 2024?
An ongoing issue that all insurers are facing into is changing climate and the associated weather events.
While we thankfully haven’t seen any major weather events since the beginning of the year, as every season passes, we see the effects of extreme weather, such as storms, flooding and subsidence.
Unfortunately, the UK is likely to face more episodes of extreme weather and it’s vital that we stay one step ahead. This is why we provide guidance on climate adaptation to our customers, offer a customer-focused claims service and are collaborating across the industry and with government on future solutions.
What has been your company’s greatest achievement in 2024?
There have been many highlights so far this year. Winning General Insurer of the Year and Of the Decade at the British Insurance Awards were very proud moments, and testament to the strength of the dedicated team we have at Aviva.
Returning to the London market through the acquisition of Probitas was a huge milestone for Aviva.
We’re really excited about what the future holds, working closely with Probitas and the Global Corporate & Specialty business. Our ability to access the Lloyd’s market, international licences and broader distribution networks represents a significant growth opportunity for us and further enhances our customer proposition.
Following the introduction of the FCA’s Consumer Duty rules in 2023, what changes have you made to products and services?
Providing good customer outcomes has always been a focus for us. UKGI has already been through pricing practices and other regulation, covering these issues and ensuring we’re compliant.
Aligning to the FCA’s new Consumer Duty, we have strengthened our processes and we will continue to work with the regulator as expectations mature and the regulation evolves.
What is your plan to grow the business?
Our ambition is to become a leading player in the UK personal lines market. Our strategy focuses on the growth of our retail brands, balanced with intermediated distribution. As with everything we do, it’s underpinned by great customer experience.
On the commercial side of the business, disciplined trading and a relentless focus on being visible, responsive and delivering flawlessly for our brokers and customers is going to be key to sustained growth.
We’re investing in our Global Corporate & Specialty business to realise our ambition of being a leading London Market insurer with global reach, best in class capabilities and dual-platform capability.
The acquisition of Probitas, which completed in July 2024, is a fantastic strategic fit with both our footprint ambition and risk appetite. This will scale our position in the market and unlock future growth in an attractive marketplace – Lloyd’s.
Return to Top 100 UK Insurers 2024. Click here for the next entry on the Top 100 UK Insurers 2024 list.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Personal
Ageas joins Axa on Sky panel
Ageas has been revealed as the latest insurer to be on the home insurance panel for Sky Protect.
ChatGPT insurance race: UK’s Malcolm takes on WaniWani
A UK insurtech incubated in Founders Factory is looking to take on US ChatGPT insurance app trailblazer WaniWani by creating an equivalent to Stripe’s standards for e-commerce “to properly unlock” artificial intelligence distribution in personal and SME commercial lines.
Diary of an Insurer: Aviva’s Anna Stone
Step inside Aviva’s archive with group archivist Anna Stone, who gives colleagues and the public a window into the people, places, and stories that have shaped the insurance giant.
Home insurance market shrinks as product strategies evolve
Although home insurance provider numbers have declined significantly since 2016, Angela Pilley, insight consultant for general insurance at Defaqto, reveals insurers are maintaining consumer choice through expanded product options.
Axa shares AI approach after Aviva’s ChatGPT move
Axa has confirmed it is working with partners on using AI to “develop new capabilities that enhance trust, value and convenience for our customers”.
Penny Black’s Social Diary: Boshers’ boxes; Duck & Waffle’s dish
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector's social media posts.
Storm Goretti losses estimated at £417m
Perils has updated its industry loss estimate for Storm Goretti, also known as Elli, increasing its initial prediction from €467m (£407m) to €479m.
Axa nabs DLG’s Milliner for new claims role
Axa Insurance UK has appointed Martin Milliner to the new role of chief claims transformation officer, following the merger of the provider's retail and commercial arms in the UK.