Aviva, the FTSE 100 insurer, is hosting an investor day focused on its wealth management business, setting out ambitions to more than double profits in the division by 2032.
The company says it is on track to deliver £280 million of wealth operating profit by 2027, rising to more than £500 million five years later.
Aviva already claims to be the UK's largest wealth manager by assets, with £261 billion under management and close to six million customers in the division.
The group's total UK customer base stands at 21.8 million, a reach it says gives it a competitive edge in cross-selling wealth products.
Operating profit in the wealth unit has doubled since 2019, driven by its workplace pension and adviser platform businesses.
The UK wealth market is expected to grow at more than 10% a year, with the total asset pool forecast to hit £7.5 trillion by 2035.
Aviva says the associated profit pool across the industry could reach around £10 billion by that point.
The company highlighted new technology, including artificial intelligence, and regulatory changes such as the Pension Schemes Act 2026 as drivers of fresh growth opportunities.
The briefing is being hosted by group chief executive Amanda Blanc alongside Doug Brown, chief executive of insurance, wealth and retirement, and Michele Golunska, managing director of wealth.
Aviva said it has further scope to grow through its direct wealth, advice and targeted support propositions, beyond the targets already set out.
The event, which started at 9am, is being live-streamed on the company's website, with a recording to follow.
Aviva shares are listed on the London Stock Exchange and the company manages total group assets of £479 billion.
