Aviva CEO Warns New UK Homes Face Flood Risks
Aviva CEO Amanda Blanc warns that current UK building patterns create uninsurable homes and urges the government to avoid policy speculation before the October Budget.
CEO of Aviva Amanda Blanc warned that current UK building patterns are creating homes that may become uninsurable as flood risks increase. Research from Aviva shows that one in nine homes built between 2022 and 2024 are at medium to high risk of flooding, with nearly a third of homes built in 2024 potentially facing flooding by 2050. Blanc noted that 115,000 new homes are projected to be built in flood zones over the next decade and urged the government to reconsider where new developments are situated.
The Department for Environment, Food and Rural Affairs responded by stating it has invested record amounts to protect nearly 900,000 properties. The agency intends to use planning proposals to prevent housebuilding in high-risk areas.
Beyond environmental concerns, Blanc cautioned the government against policy speculation ahead of Chancellor John Healey's October 28 Budget. She cited a previous surge in pension withdrawals caused by such uncertainty, noting that customers often regret taking tax-free lump sums that cannot be replaced. While warning against speculation, Blanc expressed Aviva's readiness to invest capital into UK infrastructure.
