Aviva UK sees COR deteriorate and operating profit slip

Adam Winslow

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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There has never been a greater need for a cut in Insurance Premium Tax according to the Association of British Insurers as it campaigns for an immediate drop in the rate.

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