Aviva posts £681m half-year loss

Arrow going down

The insurer attributed the group loss to a write down of £876m of goodwill and intangibles in its US business.

However, operating profit was down 10% to £935m (H1 2011: £1.035bn) due to restructuring costs, the sale of RAC, foreign exchange movements and the impact of UK weather claims.

UK
In UK-only general insurance the provider delivered a COR of 97% for the first six months of 2012. This compared with 96% in the same period of 2011.

However, Aviva highlighted that a like-for-like comparison

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