Aviva CEO calls for UK political stability to help businesses

LONDON, May ​14 (Reuters) - Aviva CEO Amanda Blanc said on Thursday that businesses were being harmed by political turmoil ​in ‌Britain, as Prime Minister Keir Starmer faces a potential leadership challenge.

"There have been too ⁠many changes of government strategy, leadership, just in my ⁠six years of being ​CEO, and I think that is harmful to a major economy such as the UK and how we are perceived abroad," Blanc told Reuters.

"We don't operate in ​a vacuum, ‌and we think it's very important that we get some stability," Blanc added in an interview after Aviva reported a 19% rise in first-quarter general insurance premiums to 3.4 billion pounds ($4.6 billion).

Blanc said many of the Labour government's ​policies, including on pensions reform, had been well received by companies, but uncertainty had ‌consequences, citing the markets crisis during the short-lived premiership of former Conservative leader Liz Truss.

"We've only got to look ‌at the market reaction to (Truss') mini-budget, to gilts - these are the sort of things that really matter," Blanc added.

DIRECT LINE BOOSTS NUMBERS Aviva completed Blanc's biggest deal yet ​with its 3.7 billion pound takeover of motor insurer Direct Line, helping the FTSE 100 insurer ‌weather market volatility as sales through price comparison sites nearly doubled since the start of 2026.

However, analysts at RBC noted weaker than expected margins in its retirement ⁠business. Aviva ⁠shares traded broadly flat.

Aviva, which offers car, home ‌and life insurance in Britain, Ireland and Canada, said its wealth net flows surged 49% to ​3.3 billion pounds ​in the quarter.

Blanc said flows had been boosted by ‌its workplace pensions and adviser units, with flows also performing well after the quarterly period ended.

Aviva