Aviva Plc U/Adr (AVVIY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, good morning everyone and thank you for joining us today for our full year results presentation. I'll start with a quick update on our 2025 performance and how Aviva will deliver today and for the future before Charlotte takes you through the results. Then we'll open for questions. So let me begin with the key messages. Aviva has delivered another outstanding set of results in 2025, extending our multi-year track record of delivery. We have achieved our 2026 targets of full year early and have now raised our ambitions. And we have enormous potential to go even further for the longer term. We are set up to make the most of the opportunities across the market, whether that's with artificial intelligence as technology changes the game, general insurance as the importance of scale and brand grows, wealth as the market expands with regulatory tailwinds, or in retirement for the next wave of pensioners as the UK ages. And I'll cover some of these in more detail later. So let's get into the numbers, which include the six-month contribution from DirectLine. As you can see, it's been a great year. Operating profit rose 25%. IFRS return on equity increased. And cash and capital generation are growing. We now have over 25 million customers and an opportunity to serve even more of their needs with over 7 million of those customers being multi-product holders. Operating EPS growth is well into the double digits and today we are announcing a final dividend of 26.2 pence per share up 10% year on year. and we are resuming the share buyback, now at a higher level of £350 million. Every business contributed to these results. In general insurance, premiums are up 18%. We are now approaching the sub-94 combined ratio ambition, and we are already achieving this in our UK business. ...