Aviva PLC (LSE:AV.) was tipped as Deutsche Bank's top pick among the UK life insurers, ahead of the FTSE 100 group's first-quarter update in May.
The investment bank nudged up its share price target to 570p from 565p, compared to the last close at just under 500p and reiterated a 'buy' recommendation to clients.
Analyst Rhea Shah said Aviva's diversified earnings and "attractive potential" post the agreed £3.7 billion acquisition of Direct Line.
"As the UK's largest listed composite insurer (and this becomes more true once DLG has been integrated), we like the diversified nature of earnings and capital, which also provides more room for capital to be used to generate the highest returns," said Shah.
"Additionally, whilst 2025 may be an integration year where the 2025 share buyback has been paused, we continue to find the valuation attractive," she added.
Aviva shares are trading on an 8.0% 2026 forecast dividend yield, plus "at least another 2.2%" from the buyback being resumed in 2026.