Aviva said stock release sales rose 41% in the first three months of the year compared to 12 months ago.
Insurance companies said retirees had sales of £1.8 billion, up 4 per cent, driven by higher sales of personal annuities and equity releases.
It added that in the transaction statement, its equity release business grew by more than 40% after the launch of new products.
General insurance premiums in the UK and Ireland rose 12% to £20 billion, personal product lines grew 8% and commercial product lines grew 15%, reflecting strong new businesses and acquisitions of Probitas.
Aviva acquired Lloyds’ market insurance company Probitas for £242 million last March.
Amanda Blanc, CEO of Aviva, said: “We continue to be very positive about the outlook for 2025.
“Our balance sheet is strong, we have a clear customer-centric strategy, we continue to deliver at speed, with market-leading businesses growing well, especially in the capital light sector.
“We are increasingly confident in Aviva’s prospects and achieving our financial goals.”
However, Blanc added: “The acquisition direct lines have been firmly on track. Straight shareholders voted overwhelmingly for the deal and we hope to close the deal in the middle of the year.”
Last month, the Stock Issuing Commission said later life insurance sales rose 32% to £665 million in the first quarter of this year, the fourth consecutive quarter for the industry.
