Amanda Blanc has worked her magic at Aviva

Amanda Blanc has brought her magic to Aviva, reviving growth and sharpening the insurer's focus, according to Dan Coatsworth, head of markets at AJ Bell. The former chief executive of Axa's UK arm took over in July 2020 following a series of unsuccessful leaders and a share price plummet of 34.9 percent over a year. Blanc swiftly addressed the chaos, eliminating underperforming European markets and using the proceeds to invest in shareholder returns.

She then focused on the UK, Ireland, and Canada, where Aviva is a leader in general and life insurance, seeking growth through acquisitions. In 2022, Blanc acquired Succession Wealth for £385 million, and in 2024, snapped up underwriting group Probitas for £242 million, granting access to the Lloyd's of London market for the first time in twenty years.

The crowning achievement came with the £3.7 billion acquisition of Direct Line in December 2024, giving Aviva control of a fifth of the UK motor insurance market. Blanc's strategic decisions have led to a 282 percent return for shareholders, outperforming the FTSE 100. Aviva boasts 22 million UK customers, making it one of the largest banks or insurers in the country.

While Blanc has laid the groundwork for Aviva's comeback, questions remain about her next moves, as some investment funds continue to underperform and autonomous vehicles may reduce the need for personal motor insurance. Despite these challenges, Coatsworth believes Blanc has fixed Aviva, and any future CEO would have an easier job with new ideas to implement.