Aviva Shares Edged 0.9% Higher on Wealth Business Presentation

The Aviva plc (LON: AV) share price edged 0.9% higher after announcing it would host a special ‘In Focus' briefing for investors and analysts, spotlighting its wealth business. The event, which began at 10:00 am (GMT), is led by Amanda Blanc, the Group CEO, and features presentations by Michele Golunska, the Managing Director of Wealth & Advice and Doug Brown, CEO of Insurance, Wealth & Retirement. 

Wealth is central and vital in Aviva's strategic vision, serving as a cornerstone of the Group's operations. The wealth sector offers substantial opportunities for Aviva to achieve sustainable, capital-efficient growth, aiming to reach a minimum of £250 billion in assets and at least £280 million in annual operating profit within the next five years.

Some key highlights about the UK wealth market include: The UK wealth market is poised to experience exponential growth, nearly tripling to £4.3 trillion over the next decade, driven by double-digit annual growth.

Aviva is strategically positioned to capitalise on this promising trend. The company already holds a leading position in the wealth market regarding assets and fund flows, securing the number one position in the workplace and a prominent adviser platform business.

Aviva's wealth business boasts a substantial and expanding customer base comprising 5 million customers, which has grown by nearly 1 million in the past three years. This presents a significant opportunity to deepen customer relationships, foster growth in Aviva's leading retirement offerings, and channel additional investments to Aviva Investors.

The insurance company is actively extending its advisory and direct wealth capabilities to fully leverage the vast opportunities within its unparalleled UK customer base, comprising 15.5 million customers, including 6 million in the mass-affluent category. Moreover, Aviva is poised to seize opportunities in the open market.

In summary, Aviva is well-prepared to harness the tremendous growth prospects presented by the expanding UK wealth market, and it is strategically positioning itself to deliver significant value to its customers and investors alike.

Aviva share price. 

The Aviva share price fell 0.899% to trade at 407.85p, from Monday’s closing price of 411.55p.