Aviva India Reports Robust H1 FY25 Financial Performance, Announces Plans for Future Growth

Aviva India has announced its financial results for the first half of FY25, showcasing consistent progress across key performance metrics and reinforcing its position in the market. Building on its strong FY24 profit of ₹90 crore, the company is poised to surpass this milestone, fueled by strategic initiatives, customer-centric innovations, and operational efficiencies.

Key Financial Highlights:

• Assets Under Management (AUM): Grew by 13% to ₹14,636 crore in H1 FY25, reflecting prudent management and growing investor trust.
• Gross Written Premium (GWP): Recorded at ₹548 crore, showing stable growth compared to ₹546 crore in H1 FY24.
• Operational Efficiency: The Opex-to-GWP ratio improved to 27% from 30% in H1 FY24, highlighting cost optimization and resource efficiency.
• Profit Growth: Net profit rose to ₹63 crore, marking a 25% increase from ₹50 crore in H1 FY24.
• Solvency Ratio: Increased to 194% from 189% in the previous year, demonstrating robust financial stability.
• Customer Service: Complaints per 10,000 policies reduced to 8.8 from 10.3 in H1 FY24, and the claim settlement ratio stood at an impressive 98.98%.

Focus on Product Diversification
Aviva India reported a growing focus on protection products within its portfolio, aligning with its strategy to meet evolving customer needs.

CEO Insights
Asit Rath, MD & CEO of Aviva India, expressed satisfaction with the company's performance, stating:
"The first half of FY25 is a testament to Aviva India’s resilience and customer-focused approach. Our profitability growth, operational efficiencies, and focus on protection products underscore our commitment to delivering value to all stakeholders. We remain dedicated to fostering financial security and holistic well-being for our customers."

Rath also highlighted plans to launch a low-ticket-size insurance product and a comprehensive term plan to cater to underserved segments, emphasizing financial inclusion and accessibility.

Future Outlook
Aviva India is preparing to unveil a transformative brand positioning in the next quarter, emphasizing the role of wellness in financial security. The company also plans to increase insurance penetration in Uttarakhand as the state’s lead insurer under IRDAI’s initiative, promoting grassroots engagement and financial inclusion.

Innovative Products on the Horizon:

• A low-ticket-size insurance plan for underserved masses.
• A comprehensive term plan offering robust protection.
• A specialized protection plan for diabetic patients.

With a nationwide network of 52 offices and over 5,600 trained professionals, Aviva India continues to strengthen its presence and commitment to empowering customers across India.