Financial Superstar: Aviva India Shines in H1 FY25, Eyes Sustainable Growth
The Assets Under Management (AUM) grew by
13% to ₹14,636 crore in H1 FY25, reflecting prudent fund management and growing
investor trust. Additionally, sales quality saw a notable improvement, with
“complaints per 10K policies” reducing from 10.3 in H1 FY24 to 8.8 in H1 FY25,
underscoring Aviva India’s commitment to enhancing customer experience.
The Gross Written Premium (GWP) for H1 FY25 stood
at ₹548 crore, reflecting flat growth compared to ₹546 crore in H1 FY24, while
operational efficiency significantly improved. The Opex-to-GWP ratio declined
to 27% from 30% last year, demonstrating a focus on cost optimization and
streamlined resource management.
Aviva India’s product mix reflects a growing focus
on protection, with the share of protection products increasing as compared to
H1 FY24. This aligns with Aviva India’s strategy to diversify its portfolio and
cater to evolving customer needs.
The claim settlement ratio, a critical trust
indicator, stood at an impressive 98.98%, further cementing Aviva India’s
reputation for reliability and commitment to policyholders.
The company recorded a profit of ₹63 crore,
a 25% increase from ₹50 crore in the same period last year. The solvency ratio
rose to 194% from 189% in H1 FY24, demonstrating financial stability and a
strong commitment to policyholders. Net worth increased by 16% to ₹749 crore.
Aviva India’s extensive distribution network includes over 5,600 trained insurance professionals and a widespread presence across 52 offices nationwide, enabling the company to effectively serve its diverse customer base.
Sharing his thoughts on the financial achievements and business performance in
H1 FY25, Asit Rath, MD and CEO, Aviva India said “The
first half of FY25 has been a testament to Aviva India’s resilience,
adaptability, and unwavering focus on delivering value across all
stakeholders—customers, sellers, and shareholders. Our sustained growth in
profitability, bolstered by our signature customer-centric products and
operational efficiencies, reflects our ability to thrive in a dynamic market
environment. The upcoming
launch of our low-ticket-size insurance product and comprehensive term plan
reinforces this commitment, paving the way for greater inclusion and deeper
penetration across India. Together, we are building a future where every Indian
feels empowered, protected, and ready to thrive in an ever-changing world.”
Looking
Ahead
Aviva India is set to introduce a transformative
brand positioning in the upcoming quarter, emphasizing the critical role of
wellness in achieving financial security. This shift aims to inspire customers
and stakeholders alike to prioritize healthier habits, resonating with the
company’s vision of holistic personal and financial well-being.
Innovative products in the pipeline include a
low-ticket-size insurance offering designed to cater to underserved masses, a
comprehensive term plan providing robust protection solutions and a Protection
plan for diabetic patients. These initiatives address the unique needs of
diverse customer segments while strengthening Aviva India’s position as a
trusted partner in achieving financial security.
Aviva will continue its efforts to increase
awareness and adoption of insurance in the state of Uttarakhand, where it has
been nominated as the lead insurer by IRDAI. This initiative reflects Aviva’s
dedication to serving underserved regions by driving grassroots engagement,
tailored insurance solutions, and community empowerment. Through this focused
approach, Aviva aims to bridge the insurance gap in the state, fostering
greater financial inclusion and security for the region's population.
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