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Aviva Plc. SWOT & PESTLE Analysis

ID : 52119853| May 2020


Business Sector :Insurance

Operating Geography :Europe, UK, Global

About Aviva Plc. :

Aviva Plc. is a multinational insurance company headquartered in London, UK and was established in the year 2000 as a result of merger of two British insurance companies, Norwich Union and CGU. Aviva operates in 16 countries globally, serves more than 33 million customers. The Company offers wide spectrum of insurance and savings products- from car, home and health insurance, to pensions, investments and asset management, with the objective to safeguard people against uncertainty. Aviva Plc. is the UK’s largest insurer, serving over 15 million customers, besides having a strong international presence in Europe, Canada and Asia. The company employs 31,700 employees as per early 2020 records. The company was awarded the “Best of the Best Insurer” award at the British Insurance Awards 2019 held at the Royal Albert Hall.
The mission statement of Aviva reads, “to grow our long-term savings business aggressively and profitably; to build a world-class fund management business; to take a focused approach to general insurance, with disciplined underwriting and efficient claims handling; to build top-five positions in key markets; to withdraw from lines of business or markets that do not offer the potential for market-leading positions or superior returns”. The vision statement of Aviva reads, “To earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. The company values are based on the ideals of “Care More, Kill Complexity, Never Rest and Create Legacy.”

Aviva Plc. Revenue :

Group operating profit
£3,184 million – FY ended 31 March 2019 (y-o-y growth 298.5%)
£3,004 million – FY ended 31 March 2018 (y-o-y growth negative 64.3%)

Competitive Analysis of Aviva Plc.

The SWOT analysis for Aviva is presented below:
1. Strong financial performance
2. Consistent performance across business segments
3. Focused three-pronged strategy
4. High brand awareness and cross-selling
1. Significant exposure in troubled European nations
1. Asian markets offer good growth potential
2. Leveraging data for business insights
3. Increase in Europe’s pension savings gap
1. Uncertainty over Brexit
2. Threat from entry of non-traditional firms
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Detailed SWOT Analysis of Aviva Plc.



1. Strong financial performance: Aviva delivered a strong set of numbers in FY16. Its operating profit was up by 12% at £3,010 m (IFRS basis) and new business registered a growth of 13% y-o-y to £1,352m (including the acquisition of Friends Life) which was driven by growth in UK and Europe. Aviva also achieved a reduction in internal loan by February 2016 to £1.5 billion. The complete integration of Friends Life into Aviva is further expected to reduce costs and improve synergies. The total dividend payout in FY16 was 23.3p, an increase of 12% y-o-y.

2. Consistent performance across business segments: Aviva has a well-diversified, customer-focused portfolio across the insurance business segments. Aviva’s fund management segment - Aviva Investors Multi-Strategy (AIMS), gained traction from the acquisition of Friends Life in 2015 and integration of its assets. The assets under management in AIMS more than doubled in HY16 to £6.2bn. The Commercial real estate segment for Aviva is substantially risk-free with Loan-To-Value Ratio (LTV) at 60% at Half Year (HY) 2016 from 102% in FY11. The loan interest cover for Aviva was at 2.14x at HY2016, significantly improving from 1.47x in FY14. Also the portfolio has zero loans in arrears as of HY2016. The Life insurance segment in UK has also been boosted by Friends Life run-rate synergies getting reflected from 2016. Aviva’s had a leading market share of 12% in General insurance and 14% in Life Insurance in UK as of 2015.

3. Focused Three-Pronged Strategy: Aviva has successfully focusing on a three pronged strategy which has allowed it to generate growth and market share. First is offering solutions and services to customers across life, general, accident & health insurance and asset management. Second is focusing on customer experience driven by digitization – leveraging the various facets of digitization such as mobility, cloud and analytics. Thirdly it is only focusing on the select geographies where it has business presence and aims to further diversify its offerings in those markets. The company will continue with this strategy for further development of its business and markets.

4. High Brand Awareness and Cross-Selling: Aviva has a high brand awareness and also is the preferred brand for consolidation from the customer’s perspective according to UBS Evidence Lab. This indicates a clear link between cross-selling of products and the Aviva brand. Also increase in available data and usage of analytics enables Aviva to understand customer profiles better and offer them the right solutions. Aviva has managed to tap customers who have taken at least one product from Aviva to take up other offerings provided by the insurer. This has been true especially in the UK market for Aviva, and the brand recognition is a key competitive advantage for the company.


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Check Out Analysis of Other Relevant Companies

References used in Aviva Plc. Analysis Report

1. Aviva annual report 2019 -

2. Aviva annual report 2018 -

3. Aviva confirms full-year financial results -

4. Aviva Company Website -

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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In-text: (SWOT &, 2020)

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