Sales up by over 40%
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Leading equity release provider Aviva has revealed a significant increase in its lifetime mortgage sales. The company reports that figures were up by 41% in the first quarter of 2025 compared to the same period last year.
Aviva attributes the sharp rise in equity release sales to the successful launch of a new product range, which has helped drive consumer interest in later life lending options.
Recent figures from the Equity Release Council also underline the strength of the market, reporting a 32% rise in later life lending to £665 million during the first quarter. That’s the fourth consecutive quarter of growth.
Aviva’s latest trading update also shows that total sales within its retirement segment reached £1.8 billion for the quarter; a 4% rise year-on-year. This growth has been fuelled by increased demand for both equity release and individual pension annuity products.
Aviva’s wider UK and Ireland general insurance business also performed strongly, with premiums growing by 12% to £2 billion. This includes an 8% uplift in personal lines and a 15% boost in commercial lines, supported by new business gains and the recent acquisition of Probitas, a Lloyd’s market insurer acquired for £242 million in 2024.
Chief Executive Amanda Blanc expressed confidence in the company’s future performance, stating: “We continue to be very positive about the outlook for 2025. Our balance sheet is strong, we have a clear customer-focused strategy which we continue to deliver at pace and our market-leading businesses are growing well.”
