Aviva COR predicted to top 99%
Investec has predicted that Aviva’s combined operating ratio will hit 99.1% in its half year results due to be published on 9 August, a deterioration from the 96% reported for the first six months of 2011.
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
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