For Aviva, the Lloyd's market offers access to huge in-appetite premium volumes, foreign licenses, and wider distribution networks, which constitute a significant source of untapped growth.

It will enable Aviva to leverage its current capital base, broker relationships, and underwriting skills.


The Group Chief Executive Officer of Aviva, Amanda Blanc, discussed the acquisition by saying, "This acquisition is another step in our strategy to invest in Aviva's future profitable growth." Aviva's entry into the Lloyd's market creates fresh chances for our capital-light general insurance company to expand more quickly.

With a projected internal rate of return (IRR) in the high teens, the move is anticipated to yield attractive financial rewards. The deal demonstrates Aviva's dedication to prudent underwriting, profitable expansion, and maintaining Probitas' distinctive culture while enhancing the capabilities of its management group.

Additionally, the acquisition is expected to broaden and diversify Aviva's Global Corporate & Specialty (GCS) offering.


GCS is a strategic growth area for the Aviva Group and is a fundamental component of Aviva's UK General Insurance (GI) business. It also helps the Group's goal of accelerating the growth of its low-capital business units.

Aviva UK & Ireland General Insurance CEO Jason Storah said, "This is a fantastic opportunity for both Aviva and Probitas." Probitas' proven track record, technological know-how, and elite team will be a great asset to Aviva. Following the acquisition, they will keep running the company and the Probitas brand will endure. We wish to maintain their distinct, flexible culture while assisting the team in concentrating on generating profitable growth that will profit from utilizing Aviva's own resources and size.

Probitas' CEO, Ash Bathia, continued, "As Probitas moves forward with its next phase of development, it was critical to find a partner with the resources and dedication to help Probitas maximize its potential and ambition to significantly scale up and diversify the business and seize a rare opportunity to create one of the most prosperous and successful franchises in the Lloyd's market.I firmly believe that Aviva is the perfect partner, and I am really thrilled to be a member of the Aviva Group and the prospects it holds for our company and employees.