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UK's largest composite insurer, providing life, general (property/casualty), health and asset management/wealth products.
UK's largest composite insurer, providing life, general (property/casualty), health and asset management/wealth products.
Collects premiums on motor, home and business insurance and on life and savings products, and earns fees from managing customers' retirement savings and investments. After selling most of its overseas businesses in 2020 and 2021 it focuses on the UK, Ireland and Canada, and in 2025 it completed the purchase of Direct Line, the motor and home insurer.
In one line: A UK version of a diversified insurer like Allstate combined with a life insurer.
Moat: narrow (scale, brand, distribution). The largest UK composite-insurance scale and multi-brand distribution give pricing and cost advantages.
Headquarters: London, UK · Founded: 1696 · Employees: 39,359
Size Aviva (AV..L) is a United Kingdom Financials company (Multi-Line Insurance) with a market value of $29.5B, the 29th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £733.80 on 6 Nov 2026.
Performance Over six months the shares gained 18.3%, against +14.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 86.1% over the last twelve months (peer median +8.2%); the operating margin is 2.5% (peer median 17.3%).
Valuation It trades at 2.46× book value against a peer median of 1.68× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 23.8%; Aviva delivers 6.8%, so the price asks more than the business earns today.
Credit Aviva has 10 bonds outstanding ($6.28B), rated BBB+ by the agencies and trading like AA+ at a weighted spread of 41 bp.
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £72.7B | £58.5B | £40.9B | £41.3B | £5.56B |
| Revenue growth | — | +43% | -1% | +643% | — |
| Net income | £559M | £979M | £650M | £1.05B | -£1.07B |
| Free cash flow | £4.63B | -£2.96B | £8.07B | -£3.09B | £15.4B |
| Capital expenditure | £188M | £191M | £173M | £350M | £99.0M |
| Total debt | n/a | £8.30B | £7.38B | £7.87B | £8.57B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Aviva AV..L | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% |
| Legal & General LGEN.L | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% |
| Admiral ADM.L | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% |
| Zurich Insurance ZURN.SW | $114B | +16% | +19% | 26% | 3.67× | 11.2% |
| Allianz ALV.DE | $192B | +19% | +21% | 21% | 2.98× | 16.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AV..L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.1% | +2.6% | 3rd highest of 21 |
| 6-month return | +18.3% | +14.2% | 4th highest of 21 |
| Return on equity | 6.8% | 16.7% | 2nd lowest of 21 |
| Price / book | 2.46× | 1.68× | 4th most expensive of 21 |
| Trailing P/E | 42.8× | 10.7× | 2nd most expensive of 21 |
| ROE the price implies | 23.8% | 10.9% | 2nd most demanding of 21 |
| ROE delivered | 6.8% | 16.8% | 2nd lowest of 21 |
| Bond spread | 41 bp | 89 bp | 2nd tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Aviva AV..L | United Kingdom | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% | 6.8% |
| Cincinnati Financial CINF | United States | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% | 16.9% |
| Prudential 2378.HK | Hong Kong | $30.8B | -24% | +30% | 19% | 1.54× | 11.3% | 19.3% |
| W. R. Berkley WRB | United States | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% | 19.2% |
| Prudential plc Sponsored ADR PUK | United States | $31.7B | -21% | +39% | 19% | 1.56× | 11.4% | 19.2% |
| Helvetia Baloise HBAN.SW | Switzerland | $27.0B | +5% | +54% | 4% | 1.80× | 4.8% | 4.0% |
| Arch Capital ACGL | United States | $36.6B | +14% | -5% | 19% | 1.58× | 8.3% | 18.7% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |
| Sompo 8630.T | Japan | $39.6B | +17% | +41% | 15% | 1.14× | 6.2% | 14.6% |
| Legal & General LGEN.L | United Kingdom | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% | 26.2% |
| Sun Life Financial SLF.TO | Canada | $40.1B | +7% | -1% | 13% | 2.38× | 13.7% | 13.5% |
| New China Life Insurance 601336.SS | China | $21.7B | -19% | +19% | 22% | 1.27× | 13.6% | 22.4% |
| American International AIG | United States | $40.7B | +2% | +1% | 8% | 1.04× | 7.5% | 8.2% |
| Power Corporation of Canada POW.TO | Canada | $40.7B | +16% | +10% | 11% | 2.42× | 15.9% | 11.0% |
| China Pacific Insurance (Group) 2601.HK | Hong Kong | $42.5B | -22% | +9% | 14% | 0.69× | 8.4% | 14.4% |
| Ms&ad Ins Gp Hldgs 8725.T | Japan | $44.4B | +22% | +21% | 17% | 1.07× | 6.9% | 16.6% |
| People's Insurance Co. (Group) of China 601319.SS | China | $44.4B | +1% | +4% | 10% | 0.96× | 6.0% | 9.7% |
| ASR Nederland ASRNL.AS | Netherlands | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% | 13.1% |
| Swiss Re SREN.SW | Switzerland | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% | 20.4% |
| Powszechny Zaklad Ubezpieczen Spolka Akcyjna PZU.WA | Poland | $16.1B | +15% | +1% | 20% | 1.83× | 19.5% | 19.5% |
| Great-West Lifeco GWO.TO | Canada | $57.4B | +18% | +4% | 16% | 3.02× | 15.7% | 16.0% |
Aviva has 10 bonds outstanding with $6.28B face value. The agencies rate it BBB+; its bonds trade like AA+. Weighted yield 3.31%, a spread of 41 bp over government bonds.