Ogden hits Aviva UK COR as it rises to 106.3%
UK GI performance was described as “strong” with net written premium increasing by £341m.
The amended discount rate hit Aviva UK's GI full year results for 2016 leading the combined operating ratio (COR) to deteriorate to 106.3% compared to 95.0% in 2015.
Aviva noted in the results that without the impact of Ogden changes the COR would have improved to 94.9%.
Net written premium in the UK grew by £341m to £4.3bn.
Growth
Colm Holmes, CEO, UK General Insurance, said: "Aviva UK & Ireland general insurance delivered a strong performance in 2016 with higher growth across the business.
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
- Takeover target Direct Line posts £189m operating loss
- Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
- FCA warns insurers, again, on undervaluing total loss motor claims