Aviva Plc U/Adr (AVVIY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us for this in-focus session. So today, we'll talk through our Q3 trading results, the progress on the direct line integration, and also our new financial targets. So there's a lot to cover. I'll start with a high-level overview of each of these elements. Charlotte will then provide more detail on the financials. And finally, Jason and Owen will update you on the direct line integration, our progress to date, and why we're so excited for the future success of the personal lines business. And of course, we've left some time for the Q&A. So let me start with the key messages. First, we've delivered another strong set of results in Q3. This continued momentum across Aviva means that we are on track to meet our Group 2026 financial targets at the end of 2025, a full year ahead of schedule. And to be clear, these three-year targets will be achieved before any contribution from DirectLine. That is a huge testament to the strength of the underlying business. Second, we are raising our expectations on the benefits that we will realise from the acquisition of DirectLine. Increasing cost synergies to £225 million and confirming significant capital benefits of at least £500 million. The integration is already well underway and while there is still more work to do, our early wins are very encouraging and have reinforced our belief in the full potential of this deal. And finally, today we are raising our ambitions for the group with new three-year targets, which better reflect the scale of the opportunity we now have, our diversified capital-like business, and our confidence in delivery. To put today's presentation into context, I want to take a moment to look back and reflect on just how far we've come. Over the last five years, ...