Aviva Plc is on track to achieve its profitability targets for the year despite its exposure to wildfires in the UK and Canada, according to its chief executive officer.
The British insurer is in contact with customers impacted by the fires in Stourbridge, England to find alternate accommodation, Amanda Blanc said in a Bloomberg Te
levision interview on Friday. Blanc said Aviva has also seen impacts across its customer portfolio in Canada, with the third quarter being the main season for wildfires in the country.
“So we will be seeing that,” Blanc said, adding that the company’s projection for profitability for the year is “safe.”
The London-based company’s operating profit rose 24% in the first six months of the year to £1.33 billion ($1.79 billion), according to the firm’s half-year results, beating analyst estimates compiled by Bloomberg. In general insurance, Aviva confirmed its 2026 guidance for a combined operating ratio in the UK and Ireland of less than 94% and “approaching” 94% in Canada.
Aviva’s wealth business saw net inflows of £7.6 billion in the first half, while the firm’s asset management arm, Aviva Investors, hauled in £200 million net from external investors in the period.
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Since taking over the CEO role in 2020, Blanc has exited non-core businesses, built out Aviva’s wealth unit and boosted the company’s market share in UK motor insurance with last year’s acquisition of Direct Line.
Blanc said in Friday’s statement that Aviva has quickly improved Direct Line’s profitability and grown price comparison website sales.
Shipping activity was subdued on Tuesday after six smaller vessels crossed in both directions on Monday with their transponders on near Iran, including bulk carriers and liquefied petroleum gas tankers, according to data from Kpler. One empty crude tanker, a US-sanctioned Aframax called Tiyara, transited dark into the Persian Gulf after idling off Oman’s coast since early July.
Maritime safety in the region has deteriorated after a series of attacks in recent days, including on a cargo ship overnight. On Sunday, the oil supertanker Egypt Prosperity aborted an attempt to exit the Persian Gulf following direct threats over radio, while its crew reported hearing explosions nearby, according to alerts issued by security consultancies seen by Bloomberg News.