Aviva has reported a 71 per cent increase in workplace pension net flows during the first quarter of 2026, helping drive overall wealth net flows up 49 per cent to £3.3bn.

In its Q1 2026 trading update, the insurer said workplace pension net flows rose to £2bn, up from £1.2bn in the same period last year, supported by wage inflation, member growth and improved retention.

Aviva also confirmed that it won 112 new workplace pension schemes during the quarter and said it continued to see a “strong new business pipeline”.

Overall wealth net flows increased to £3.3bn from £2.3bn in Q1 2025, representing 6 per cent of opening assets under management (AUM).

Total wealth AUM stood at £233bn at the end of March 2026, broadly unchanged over the quarter as market movements offset strong inflows.

Meanwhile, Aviva said customer numbers increased by a further 55,000 during the quarter, reaching 5.8 million.

The insurer also highlighted continued growth in platform business, with platform net flows rising 24 per cent to £1.6bn, driven by higher inflows into its adviser platform and direct wealth business.

Aviva group CEO, Amanda Blanc, said the business had delivered “another quarter of strong trading”, despite global market volatility.

“Wealth, where we are the number one player, delivered another very positive performance, increasing net flows by 49 per cent to £3.3bn.

“Our workplace pensions business performed particularly well, increasing net flows by 71 per cent, and the tax-year end was another success, with strong inflows in our adviser platform and direct wealth business.”

Elsewhere, Aviva reported retirement sales of £1.1bn during the quarter, down 35 per cent from £1.8bn in Q1 2025, reflecting lower bulk purchase annuity (BPA) volumes.

BPA sales fell 52 per cent to £619m amid lower quote activity and competitive market conditions, although Aviva said year-to-date BPA volumes had since reached £1.1bn.

However, individual annuity sales increased 10 per cent to £434m, while equity release sales rose 8 per cent to £93m.

Looking ahead, Aviva said it remained on track to meet its group targets and expected continued growth momentum in wealth, underpinned by its workplace pensions business, which it noted continues to receive around £1bn of inflows from regular member contributions each month.

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