Aviva's McMillan hails personal lines performance as commercial COR hits 105%
David McMillan, CEO of Aviva UK’s general insurance operation, has revealed that, despite a positive set of 2011 results, commercial lines continues to drag at the overall performance.
Although the UK general insurance operation delivered profits of over £500m on premiums of over £4.4bn and a combined operating ratio (COR) of 96%, the commercial lines operation, particularly commercial motor, performed much less favourably.
The overall commercial COR came in at 105% which hit a much more favourable personal lines COR of just 91%.
But the real trouble lay in the performance of the commercial motor book (COR: 113%) where Mr McMillan revealed the insurer had pushed through rate
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