Is AV.L (Aviva plc) Halal or Haram?

Based on our AAOIFI-standard shariah screening, AV.L is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 3 of 4 compliance screens. Aviva plc's core business activity was found to be non-compliant. Its debt-to-market-cap ratio of 33.02% exceeds the ≤33% threshold. Its cash & securities ratio of 112.60% exceeds the ≤33% threshold.

Aviva plc is a major player in the global financial sector, primarily operating across the UK, Ireland , and Canada. The company specializes in general and life insurance, offering products ranging from motor and medical coverage to long-term pension annuities and lifetime mortgages. As a diversified insurer, their business model relies heavily on underwriting risk and managing vast pools of capital in conventional interest-bearing assets. For Muslim investors using HalalStocks.co.uk, Aviva plc is classified as Not Halal (Haram). The company only passed one out of four AAOIFI screening criteria, failing significantly on its core business activity. Because conventional insurance involves *gharar* (excessive uncertainty) and *maisir* (gambling -like speculation), and their mortgage products involve *riba* (interest), the stock is fundamentally unsuitable for a Shariah-compliant portfolio. From a financial ratio perspective, Aviva also presents significant compliance issues. While their interest income relative to revenue appears low at 0.00%, their balance sheet structure is problematic; they hold cash and interest-bearing securities worth 112.6% of their market capitalization, far exceeding the 33% limit. Additionally, their debt -to-market cap ratio sits right at the borderline of 33%, further confirming the stock's non- compliant status. Investors seeking exposure to the insurance sector should look for Takaful (Islamic insurance) providers rather than conventional firms like Aviva. Until the company completely restructures its underwriting model and investment portfolio to align with Islamic principles—a highly unlikely scenario for a legacy insurer—this stock remains off-limits for observant Muslim investors. Aviva plc operates in the Financial Services sector under the Insurance - Diversified industry and is headquartered in London, GB. The company is led by CEO Dame Amanda Jayne Blanc and employs approximately 29,091 people.

AV.L was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. AV.L passed 1 of these 4 screens.

AV.L was last screened on 2026-03-01. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.