Aviva COR predicted to top 99%

In a research note Investec Bank analyst Kevin Ryan said the provider’s general insurance profit would fall by 5% year-on-year although he added that even this may prove to be optimistic given the severity of the UK weather particularly in June.

Mr Ryan wrote: “There are two components to the result being the investment income element and, of course, the underwriting.

“Given the severe UK weather, we forecast a combined ratio of 99.1% (2011: 96%). This is lower than consensus estimates collected