Aviva UK sees COR deteriorate and operating profit slip
Aviva UK’s combined operating ratio for H1 2022 has deteriorated to 95.6% and operating profit dropped to £159m from £169m in the same period last year.
The insurer revealed that gross written premium grew by 5% to £2.63bn with the business flagging a positive performance in its commercial lines division.
UK commercial lines GWP was up 12% to £1.43bn “reflecting a favourable rating environment, high retention levels and strong new business growth, benefiting from our investment in underwriting talent and strong broker relationships”, Aviva said.
UK personal lines GWP fell by 1% to £1.2bn. The insurer detailed that retail premiums were stable
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