Aviva UK business grows but profits dip

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On premiums of £4.44bn (£4.41bn: 2010), the general insurance business produced a profit of £540m in 2011 which was down slightly on the previous year’s return of £567m.

The vast majority of this profit (£438m) was delivered via investments with the underwriting return coming in at only £129m, down significantly on 2010 when £184m was derived from underwriting profit.

Despite the fluctuations in growth and profit levels, the combined operating ratio (COR) remained static at a respectable 96%.

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