Aviva recorded bulk purchase annuity sales totalling £4.6bn in 2025, up 41 per cent from the £3.3bn of sales in 2024, according to the firm’s annual results.
The insurer also confirmed that growth in its workplace pensions business means it now has 5m workplace pension members, generating regular contributions of £1bn a month.
Overall Aviva’s total pension assets under management at Aviva rose nominally, up to £10.32bn, from £10.28bn as of December 31 2024, an increase of 0.4 per cent.
Within assets, Aviva now holds £596m in pension surplus, compared to £461m at the conclusion of 2024, a 29 per cent year-on-year rise.
In the results presentation, Aviva identified wealth as a “highly attractive growth opportunity”, particularly with nine in 10 eligible UK employees now saving into a workplace pension.
In Retirement, Aviva had its best year for individual annuities since the introduction of Pension Freedoms, with sales up 19 per cent to £1.6bn.
Doug Brown, head of insurance, wealth and retirement at Aviva, said: “We’re the No1 player in Wealth, with Workplace delivering a record 544 new scheme wins and net flows up 6 per cent to £7.1bn. We now look after around 5m workplace pension customers and regular member contributions have grown to £1bn a month.”
In individual annuities, sales were also up 19 per cent at Aviva, rising to £1.6bn in 2025.
