Aviva Q3 trading update predicts 2026 targets to be hit one year early

Aviva is on target to post a £2.2bn operating profit across 2025, according to the firm’s third quarter trading update, released today (13 November 2025).

That figure would mean the firm exceeding its 2026 target of £2bn in operating profit one year early, a prospect that Aviva said had led to “raised ambitions with new three-year group targets”.

Meanwhile, UK general insurance gross written premiums (GWP) for the first nine months of 2025 climbed 17% year-on-year to £6.27bn, consisting of £3.35bn of personal lines income – up 24% on the same period last year – and £2.92bn of commercial lines income – a 10% increase.

The company’s personal lines growth was partially attributable to the recently announced acquisition of Direct Line and the addition of a travel partnership with Nationwide.

Undiscounted combined operating ratio (COR) in the UK business also improved from 95.2% in Q3 2024 to 93.6% in Q3 2025, while discounted COR improved from 91.4% to 89.2%.

The projected 2025 group operating profit of £2.2bn equates to approximate earnings per share of £0.55, a figure which has been fixed as the new baseline for the improved targets the firm aims to hit between 2026 and 2028.

Financial targets

Speaking in the report, Amanda Blanc, group chief executive at Aviva, said: “We continue to make excellent progress and now expect to achieve our financial targets in 2025, one year early.

“Crucially, we have achieved this significant milestone thanks to the consistently strong performance of Aviva, before any impacts of the Direct Line acquisition are included.”

She continued: “Our third quarter numbers show that once again we are growing profitably right across the group. In general insurance, premiums are up 12% to £10bn.

“The outlook for Aviva has never been better. The advantages of our diversified business, 25 million strong customer base and majority capital-light earnings, mean we expect to deliver more and more for our shareholders and customers.”