REG - Aviva PLC - Response to PRA Final Notice

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RNS Number : 2409W  Aviva PLC  11 March 2026

 

 

 

 

 

 

11 March 2026

 

Aviva plc

 

Response to PRA Final Notice on historical Direct Line Group accounting errors

 

Aviva plc ("Aviva") notes the outcome of the PRA's investigation into a
miscalculation of Direct Line Group's ("DLG") solvency position, which was
identified and disclosed by DLG in August 2024. This is an historical issue
relating entirely to a period before Aviva completed its acquisition of DLG in
July 2025.

 

The PRA has acknowledged that DLG and, subsequent to completion of the
acquisition, Aviva, have co-operated with their investigation in an exemplary
manner and, as a consequence, the financial penalty has been discounted by the
maximum amount possible.

 

Following completion of the acquisition, Aviva has also taken extensive action
to enhance the financial reporting control environment within the former DLG
part of the business.

 

Aviva was fully aware of this matter prior to agreeing the terms of the
acquisition of DLG and the outcome is fully provided for in the acquisition
balance sheet. The resolution of this matter has no impact on the integration
of DLG into Aviva, which is proceeding well, and no impact on the expected
financial benefits arising from the acquisition.

 

-ends-

 

 Enquiries:
 Media:
 Andrew Reid              +44 (0)7800 694 276
 Sarah Swailes            +44 (0)7800 694 859
 Marion Fischer           +44 (0)7800 693 219

 Investors and analysts:
 Greg Neilson             +44 (0)7800 694 564
 Michael O'Hara           +44 (0)7387 234 388

 

Notes to editors:

·    We are the UK's only diversified insurer and we operate in the UK,
Ireland and Canada. We also have international investments in India and China.

·    We help our 25.2 million customers make the most out of life, plan
for the future, and have the confidence that if things go wrong we'll be there
to put it right.

·    We have been taking care of people for more than 325 years, in line
with our purpose of being 'with you today, for a better tomorrow'. In 2025, we
paid £31.9 billion in claims and benefits to our customers.

·    Aviva is a Living Wage, Living Pension and Living Hours employer and
provides market-leading benefits for our people, including flexible working,
paid carers leave and equal parental leave. Find out more at
www.aviva.com/about-us/our-people (https://www.aviva.com/about-us/our-people/)
.

·    As at 31 December 2025, total Group assets under management at Aviva
Group were £454 billion and our estimated Solvency II shareholder capital
surplus was £7.1 billion. Our shares are listed on the London Stock Exchange
and we are a member of the FTSE 100 index.

·    For more details on what we do, our business and how we help our
customers, visit www.aviva.com/about-us (https://www.aviva.com/about-us/) .

·    The Aviva newsroom at www.aviva.com/newsroom
(https://www.aviva.com/newsroom/) includes links to our spokespeople images,
podcasts, research reports and our news release archive. Sign up
(https://www.aviva.com/newsroom/get-our-latest-news-and-updates-by-email/) to
get the latest news from Aviva by email.

·    You can follow us on:

o  X: www.x.com/avivaplc (https://x.com/avivaplc)

o  LinkedIn: www.linkedin.com/company/aviva-plc
(https://www.linkedin.com/company/aviva-plc)

o  Instagram: www.instagram.com/avivaplc/
(https://www.instagram.com/avivaplc/)

·    For the latest corporate films from around our business, subscribe to
our YouTube channel: www.youtube.com/aviva (https://www.youtube.com/aviva) .

 

 

 

 

 

 

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