Aviva manages to bring COR down to 97%
Aviva UK has had a good start to the year amid the uncertainty at senior management levels producing a combined operating ratio (COR) of 97% (Q1 2011: 100%) on a reduced level of premium.
The insurer, which recently lost its chief executive Andrew Moss following a shareholder revolt over pay, wrote £974m in the first quarter of 2012 down from £1.013bn in the same period 2011.
The results exclude RAC’s performance. In personal lines there was a 6% growth in rate in personal motor and 3% in homeowner, but commercial motor rates remained stubbornly low.
John McFarlane, executive deputy chairman, said: “Although the economic environment remains uncertain, we have delivered a solid
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- Brokers push for more from RSA/NIG
- Aviva’s David Martin on the art of the possible