The Canadian subsidiary of Aviva plc reports a slight increase in direct written premiums in 2025. Combined with improved claims experience, the company improved its underwriting results and operating profit compared with the previous year.
For property and casualty insurance activities, operating profit reached £408 million (M£) for Aviva Canada in 2025. In 2024, Aviva reported a profit of M£288 for its Canadian operations. This represents an increase of 42 per cent in operating profit. At constant currency, the increase is 49 per cent.
Premiums
In Canada, where Aviva operates only in property and casualty insurance, the company recorded an increase of 2 per cent in gross written premiums in 2025 compared with the previous year, at constant currency.
Gross written premiums in Canada reached £4.4 billion (G£) in 2025, compared with G£4.5 in 2024. This represents a decrease of M£147, or 3 per cent year over year.
In commercial property and casualty insurance, gross written premiums in Canada totalled G£1.6 in 2025, a decrease of M£172 or 10 per cent compared with the premiums reported in 2024. At constant currency, the decline is 5 per cent, Aviva indicates.
In the release published on March 5 by Aviva Canada, the company notes the softening of commercial lines market. Aviva plc adds that its global corporate and specialty division “exited some unprofitable accounts to maintain discipline and focus on margins over volume.”
In personal property and casualty insurance, premiums in Canada totalled G£2.8 in 2025. This represents an increase of M£25, or 1 per cent over the previous year. The increase is 6 per cent at constant currency.
Aviva Canada highlights its partnership with President’s Choice Insurance announced in 2025. Because of this expansion of its distribution network, the distribution expense ratio rose from 31.8 per cent in 2024 to 32.4 per cent in 2025.
Combined ratio
The undiscounted combined ratio for Aviva’s operations in Canada stood at 95.6 per cent in 2025, compared with 98.5 per cent in 2024. This represents an improvement of 2.9 percentage points.
The combined ratio on an adjusted basis stood at 92.5 per cent in 2025, compared with 94.4 per cent in 2024.
In commercial insurance, the undiscounted combined ratio reached 97.2 per cent in 2025, whereas it was 98.3 per cent in 2024. This represents a difference of 1.1 percentage points.
In personal insurance, the undiscounted combined ratio, which was 98.6 per cent in 2024, declined to 94.7 per cent in 2025. This represents a gap of 3.9 percentage points.
The claims ratio stood at 60.1 per cent for Aviva Canada in 2025, compared with 62.6 per cent in 2024.
The claims ratio for all Aviva subsidiaries reached 58.2 per cent in 2025, compared with 60.8 per cent in 2024. The undiscounted combined ratio for the entire group was 94.6 per cent in 2025, whereas it was 96.3 per cent in 2024.
Underwriting result
Aviva reports an underwriting result of M£310 in Canada in 2025, compared with M£228 in 2024. This represents an increase of 36 per cent, or 43 per cent at constant currency.
According to Aviva, this result “reflects the earn-through of pricing actions and improved catastrophe experience, in-line with expectations, after elevated catastrophes in 2024, partly offset by less favourable prior-year development compared with the prior year.”
The underwriting result in commercial insurance in Canada stood at M£101 in 2025, compared with M£104 in 2024. In personal insurance, the underwriting result reached M£209 in 2025, compared with M£124 in 2024.
In the release published by Aviva Canada on March 5, Nav Dhillon, CEO of the Canadian subsidiary, notes that “we ended financial year in a strong position. Aviva Canada continued its track record of delivering consistently solid results performance, reflecting the resilience of our business and disciplined delivery of our strategy, while growing sustainable amid dynamic market conditions.”
Dhillon notes that results in personal insurance were stronger due to rate and underwriting actions, reduced auto theft and catastrophic weather events in line with expectations.
