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

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.459 Good morning, everyone, and thank you for joining us for this in-focus session. 00:00:05.459 -- 00:00:10.727 So today, we'll talk through our Q3 trading results, the progress on the direct line 00:00:10.727 -- 00:00:14.352 integration, and also our new financial targets. 00:00:14.352 -- 00:00:20.461 So there's a lot to cover. I'll start with a high-level overview of each of these elements. 00:00:20.461 -- 00:00:23.386 Charlotte will then provide more detail on the financials. 00:00:23.386 -- 00:00:28.252 And finally, Jason and Owen will update you on the direct line integration, our progress 00:00:28.252 -- 00:00:33.839 to date, and why we're so excited for the future success of the personal lines business. 00:00:33.839 -- 00:00:37.043 And of course, we've left some time for the Q&A. 00:00:37.043 -- 00:00:39.827 So let me start with the key messages. 00:00:39.827 -- 00:00:44.513 First, we've delivered another strong set of results in Q3. 00:00:44.513 -- 00:00:49.662 This continued momentum across Aviva means that we are on track to meet our Group 00:00:49.662 -- 00:00:55.351 2026 financial targets at the end of 2025, a 00:00:55.351 -- 00:01:00.600 full year ahead of schedule. And to be clear, these three-year targets 00:01:00.600 -- 00:01:05.308 will be achieved before any contribution from DirectLine. 00:01:05.308 -- 00:01:09.218 That is a huge testament to the strength of the underlying business. 00:01:09.218 -- 00:01:14.403 Second, we are raising our expectations on the benefits that we will realise 00:01:14.403 -- 00:01:20.088 from the acquisition of DirectLine. Increasing cost synergies to £225 00:01:20.088 -- 00:01:25.794 million and confirming significant capital benefits of at least £500 00:01:25.794 -- 00:01:30.799 million...