Aviva Plc · LSE:AV.
Aviva — Investor Day (October 2026)
50 slides from Aviva's investor day presentation, Oct 16, 2026
Slide 1: In Focus: Wealth
In Focus: Wealth 16 October 2026
Slide 2: Cautionary statement and important information
Cautionary statement and important information Cautionary statement This presentation should be read in conjunction with the documents distributed by Aviva plc (the ‘Company’ or ‘Aviva’) through The Regulatory News Service (RNS).This presentation contains, and we may make other verbal or written ‘fo
Slide 3: Agenda
Agenda Amanda Blanc Aviva’s growth platform in Wealth Group CEO Doug Brown 3-year highlights and long-term potential CEO, IWR Michele The next phase of organic growth Golunska Workplace | Adviser Platform | Direct Wealth, Advice & Targeted Support MD, Wealth Takeaways and Q&A 3
Slide 4: Aviva's growth platform in Wealth
Aviva’s growth platform in Wealth Amanda Blanc 4
Slide 5: Key messages
Key messages A major opportunity in UK Wealth, Aviva uniquely positioned Insurance UK&I GI #1 #1 Canada GI #2 #2 Protection #1 #1 Unlocking Aviva’s customer Health #3 advantage with strong foundations >25m Wealth #1 New technology creating even Global customers Workplace more exciting opportunities
Slide 6: A major opportunity in UK Wealth, Aviva uniquely positioned
A major opportunity in UK Wealth, Aviva uniquely positioned Major growth opportunity in UK Wealth Aviva positioned to take advantage £2.7tn £7.5tn Aviva customer franchise, #1 trusted Market size, 2025 Market size, 2035 UK FS brand & strong foundations >10% £10bn Market growth p.a. Net flows & asset
Slide 7: Unlocking Aviva's customer advantage with strong foundations
Unlocking Aviva’s customer advantage with strong foundations Driving lifetime customer relationship Critical part of our corporate proposition 5.1m 21.8m £1.6tn Workplace customers Aviva UK customers Investible assets1 93% Penetration across Corporate IFAs & EBCs Workplace pension Acquisition engine
Slide 8: New technology creating even more exciting opportunities
New technology creating even more exciting opportunities Technology & regulation Transforming our business to capture opportunity driving market change AI powering customer 56% Engaging customers & Future-ready decisions & actions UK investors using AI improving operations business to help manage mo
Slide 9: Confident in >£500m profit by 2032 and potential beyond
Confident in >£500m profit by 2032 and potential beyond Building track record of profitable growth Well on track for Wealth operating profit >£500m £280m operating profit by 2027 & greater than £500m by 2032… … primarily underpinned by growth £280m in Workplace & Adviser Platform 2x £175m £124m £88m
Slide 10: 3-year highlights and long-term potential
3 - year highlights and long - term potential Doug Brown 10
Slide 11: #1 in Wealth, leader in Workplace and Adviser Platform
#1 in Wealth, leader in Workplace and Adviser Platform Aviva #1 with outperformance on flows AUM Customers H1 2026 H1 2026 Wealth AUM, 2025 Workplace Workplace Advised 1 Direct £261bn Net flows £172bn 5.1m 2023-25 Administration of employer #1 by AUM H1 2026 pension schemes & Master Trusts £234bn +£
Slide 12: Significant performance momentum since 2023
Significant performance momentum since 2023 In Focus Accelerating profitable growth Strong momentum across all businesses 22% 1.7k scheme wins & accelerating in Master Trust Direct Wealth +18% Workplace Op. profit growth with £8bn win of exclusive Mercer partnership CAGR Advised1 £261bn 2022-25 CAGR
Slide 13: Opening profit jaws as we scale
Opening profit jaws as we scale Strong margin improvement since 2023 Driving sustained improvements Operating profit margin (bps) Disciplined growth in diversified portfolio 9-10 Disciplined pricing, enhancing revenue mix & investing in areas of opportunity – e.g., Adviser HNW, Direct Wealth 8.1 7.0
Slide 14: Playing into fast-growing Wealth market
Playing into fast-growing Wealth market Double-digit growth rates across all our markets Upside from addressing under-saving… UK Wealth market, on-platform AUM CAGR >40% UK adults under-saving for retirement Direct Wealth Advised £7.5tn 2025-35 Workplace £2tn 12-17% 35% UK personal savings in equiti
Slide 15: Lifetime connected wealth offering is significant advantage
Lifetime connected wealth offering is significant advantage Supporting lifetime needs of all customers Powering Wealth growth… Starting out Accumulation Retirement c.70% £1.5bn Direct Wealth sales Referrals to advice in to existing customers H1 2026 with 17% conversion Workplace Supporting pension n
Slide 16: Unlocking Aviva customer opportunity
Unlocking Aviva customer opportunity Increased ability to Engaging & supporting reach customers customers Personalisation & c.6m Launching Wealth on ChatGPT app always-on support with Virtual Assistant Wealth customers +0.8m since 2022 4m contactable Targeted Support NEW Workplace customers >85% of
Slide 17: Embracing AI with exciting opportunities to accelerate growth
Embracing AI with exciting opportunities to accelerate Already embedding AI Exciting new opportunities to accelerate growth Retirement guidance Proposition development Engaging customers LLM distribution AI-powered coaching complementing Simulating customer decisions with AI, Aviva Wealth on ChatGPT
Slide 18: Confident in >£500m profit by 2032 and potential beyond
Confident in >£500m profit by 2032 and potential beyond Wealth operating profit Well on track for £280m operating profit by 2027 >£500m & greater than £500m by 2032… c.15% CAGR … primarily underpinned by growth £280m in Workplace & Adviser Platform £175m £124m £88m Highly confident in organic growth
Slide 19: Focused on three priority areas to unlock next phase of growth
Focused on three priority areas to unlock next phase of growth 1 2 3 Leading from Scaling leading Direct Wealth, Advice #1 Workplace position Adviser Platform & Targeted Support Primary drivers of £500m operating profit ambition Growth potential beyond 19
Slide 20: Leading from #1 Workplace position
1 Leading from #1 Workplace position Michele Golunska 20
Slide 21: Key profit engine and critical contributor to Wealth ambition
Key profit engine and critical contributor to Wealth ambition Workplace operating profit growth Large, profitable and fast-growing business 22% CAGR £163m £128m Resilient flows through regular payroll contributions £91m £98m Market leader with room to grow in uniquely Op. profit attractive, high-gro
Slide 22: Uniquely attractive fast-growing Workplace market
Uniquely attractive fast-growing Workplace market Fast-growing market, fuelled by regular contributions Uniquely attractive market Workplace market AUM ~£4tn Reliable, recurring contributions Future net contributions 8% auto-enrolment contributions from payroll, Historical AUM growth & increasing in
Slide 23: Strong market leader with deep competitive advantage
Strong market leader with deep competitive advantage Growing from leadership position Clear right to continue winning Workplace AUM, 2025 5.1m customers driving regular contributions of Contract/Own Rules Trust Net flows £1.1bn per month 1.5x since Master Trust 2023 In Focus 2023-25 £153bn £21bn Go-
Slide 24: Leading positions in all segments with room to grow
Leading positions in all segments with room to grow 2025 market Market CAGR Aviva AUM 2022-25 share Master Trust growth is a key priority c.8% Master Trust c.£270bn 27% c.10% incl. Mercer partnership Contract & 26% c.£500bn 17% Own Rules Trust Accelerating +30% #1 in market Outgrowing market Aviva M
Slide 25: Go-to partner for EBCs and corporate IFAs
Go-to partner for EBCs and corporate IFAs Market-leading offering for members #1 recommended by intermediaries Leading MyAviva app Leading service 4.6 digital experience & access to broader offering1 #1 likelihood to recommend, 42% NPS vs. (8)% market avg. Leading investment proposition #1 for busin
Slide 26: Market-leading investment propositions with Aviva Investors
Market-leading investment propositions with Aviva Investors Leading at-scale defaults with range of choices for schemes Top-rated default provider My Future Focus Mix of public & private assets £51bn #2 Rated best-in-class with active & passive funds Investment by intermediaries AUM performance1 My
Slide 27: Well positioned for Pension Schemes Act
Well positioned for Pension Schemes Act Main default 10% of default funds Shift from cost to value Guided Retirement arrangement to in private markets and risk-adjusted default solution for reach at least £25bn by 2030 returns focus members Why Aviva is in strong position Two defaults already Launch
Slide 28: Clear priorities to continue accelerating
Clear priorities to continue accelerating Going after growth headroom in Workplace Capitalising on Aviva customer advantage Driving Making Direct Wealth Accelerating Scaling Aviva Master Trust & going after 27% referrals into available alongside Workplace offering, 1m Master Trust strategic partners
Slide 29: Scaling leading Adviser Platform
2 Scaling leading Adviser Platform Michele Golunska 29
Slide 30: Very strong momentum in Adviser Platform
Very strong momentum in Adviser Platform Adviser Platform asset growth At scale with strong growth momentum – on AUM track to become material profit contributor +18% CAGR £65bn £54bn Rapidly building leadership position & £39bn £44bn outperforming peers in high-growth market Platform of choice for a
Slide 31: Rapidly building a leadership position – aiming for top 3
Rapidly building a leadership position – aiming for top 3 Step-change in AUM driven by outperformance on flows Expecting market to double supported by structural trends Adviser Platform AUM, 2025 Net flows as £0.8tn £2tn Net flows % of AUM 2023-25 2023-25 2 Platform AUM, 2025 Platform AUM, 20352 £11
Slide 32: Adviser platform of choice with clear differentiators
Adviser platform of choice with clear differentiators #1 brand with leading Trusted, financially strong partner with long- trust & reliability term commitment to advice market & clients First-to-market asset Industry-leading capability reducing adviser transition capability admin by c.80% - key for
Slide 33: Driving next phase of growth in Adviser Platform
Driving next phase of growth in Adviser Platform Leveraging leading asset transition to Continuing to expand proposition, building win as advice market consolidates on success of onshore bond launch Winning with Continue to consolidators extend into & national firms 1% HNW segment #1 priority Firms
Slide 34: Direct Wealth, Advice & Targeted Support
3 Direct Wealth, Advice & Targeted Support Michele Golunska 34
Slide 35: Direct Wealth is critical component of Aviva Wealth proposition
Direct Wealth is critical component of Aviva Wealth proposition Direct Wealth Critical component of connected lifetime proposition Role of Direct Wealth Starting out Accumulation Retirement Serving more investment needs of Aviva customers Workplace Strong platform for pension consolidation & upgrade
Slide 36: Significant growth potential in Direct Wealth
Significant growth potential in Direct Wealth Direct Wealth Fast-growing D2C market Aviva has clear right to win D2C market AUM Aviva trusted brand, customer & pensions 12-17% franchise CAGR Upside >£3tn case 18% CAGR Strong foundations to access customer Base opportunity – MyAviva, single view of c
Slide 37: Invested to build foundations in Direct Wealth
Invested to build foundations in Direct Wealth Direct Wealth Strong foundations in place MyAviva experience – transformed customer journeys, 74% online experience score AI-powered find & combine, pension consolidation – £0.6bn pension transfers 2026 YTD Range of product wrappers – ISA, GIA, SIPP, pe
Slide 38: Unlocking flows from Aviva customers
Unlocking flows from Aviva customers Direct Wealth Leveraging MyAviva as a Material progress unlocking customer opportunity gateway to everything Aviva Made Wealth more accessible by integrating all propositions into MyAviva Now unlocked 10m Aviva customers through marketing permissions & terms of b
Slide 39: Opportunity to significantly accelerate organic growth
Opportunity to significantly accelerate organic growth Direct Wealth Technology driving market change Opportunity to accelerate organic growth with trusted brand… AI powering LLMs increasingly used for financial customer decisions research & unregulated advice Playing into LLM distribution Revenue m
Slide 40: Advice remains important to support Aviva customers
Advice remains important to support Aviva customers Advice Critical component of connected lifetime proposition Clear role for in-person advice to support more complex needs Starting out Accumulation Retirement Customer preference for human-led financial advice – 7 in 10 adults Workplace Tax complex
Slide 41: Transformed in-house Advice, connecting it to Aviva
Transformed in-house Advice, connecting it to Aviva Advice Succession Wealth today Created more connected & scalable advice proposition 225 advisers Built referral engine, connecting £1.5bn advice to Aviva customers who need it H1 2026 referral value, Whole-of-market & with 17% conversion restricted
Slide 42: Clear priorities to continue scaling with Aviva customers
Clear priorities to continue scaling with Aviva customers Advice Low-cost Lowering cost-to-serve by 50% & making digital-first advice £100k case sizes economically viable Scaling Aviva Scaling lead generation & referrals from referral engine Workplace, sourcing from rest of Aviva Improving Deliverin
Slide 43: Low-cost advice expands Aviva customer opportunity
Low-cost advice expands Aviva customer opportunity Advice Digital onboarding Goal optimisation engine Workflow automation 4x Larger Aviva customer opportunity with Dynamic recommendations low-cost advice £100k 50% Case sizes economical Lower cost-to-serve with use of capability with digital / human
Slide 44: Supporting even more customers with Targeted Support
Supporting even more customers with Targeted Support Targeted Support Mass-market Mass-affluent Affluent Unmet need for support <9% Regulated Personalised recommendations UK adults with access to for complex needs & holistic Wealth bespoke financial advice advice management for affluent customers >4
Slide 45: Customers trust Aviva for financial education and support
Customers trust Aviva for financial education and support Targeted Support Significant engagement with campaigns Range of support available Education Building understanding of investing & retirement saving Guidance within journeys Supporting with key decisions – e.g., Guided Retirement Engagement to
Slide 46: Launched Targeted Support with focus on Pensions
Launched Targeted Support with focus on Pensions Targeted Support Turning Targeted Support into LIVE always-on, responsive conversations Upgrading legacy pensions Proactive campaign & suggestions to upgrade Agentic Targeted Support underpinned to modern, more flexible Direct Wealth SIPP by proprieta
Slide 47: Key takeaways
Key takeaways A major opportunity in UK Wealth, Aviva uniquely positioned New technology creating even more exciting opportunities to accelerate Leading positions and strong progress in Workplace and Adviser Platform Confident in greater than £500m operating profit ambition by 2032… … and significan
Slide 48: Appendix
WM AVIVA Appendix
Slide 49: End-to-end lifetime offering
End-to-end lifetime offering Starting out 25-34 Accumulation 35-54 Retirement 55+ c.15% Pensions outflows Start investing & Grow & maximise Secure future for recaptured1 saving for the future Wealth for the future customers & loved ones Affluent Financial planning Holistic wealth management Advice I
Slide 50: Invested in customer foundations
Invested in customer foundations MyAviva app A single digital front >85% door to Aviva Wealth customers with access to MyAviva 21.8m UK customers Single view Single master record across all Aviva UK lines – incl. >17m c.1PB of customer customers & c.4m prospects1 Customer data on Snowflake platform