Russ Mould, investment director at AJ Bell, said: “The market seems underwhelmed by Aviva’s latest update and in particular its three-year targets for the business.
“This does follow a strong showing for the shares so far in 2025 so a pause for breath is understandable – particularly given evidence of strong competition in the bulk purchase annuity market, where insurers take over the running of corporate pension schemes.
“This is a profitable area but an increasingly crowded market and that was reflected in a meaningful drop in sales.
“Otherwise, the integration of Direct Line continues to motor along as the company continues to up the expected synergies from the deal.”
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