Spencer committed to getting commercial COR below 100%

Robin Spencer

"I'm delighted with the first half performance ... after you factor out the one-offs, our underlying profitability is up 17% which is a great result," he said.

"Revenue and premiums are up around 5%. Our combined operating ratio [COR] is down from 98% last year, excluding RAC, to 97% this year. That includes probably 2% for floods."

On personal lines Mr Spencer said that Aviva had achieved good results across the board. Looking at the detail of personal lines, Mr Spencer reported that the

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