Aviva UK operating profit slips in 2022 as COR ticks up
Aviva’s UK combined operating ratio worsened to 96.1% in 2022, from 94.6% the year before, with operating profit down 3% to £309m.
The provider grew gross written premiums by 8% to £5.32bn, which was driven by double-digit growth in commercial lines and its retail channel attracting more customers.
UK commercial lines GWP was up 12% to £2.93bn due to a combination of strong retention, new business growth and a hard-rating environment. Within commercial, SME grew 13% supported by mid-market and digital-traded business.
£5.32bnAviva grew gross written premiums by 8% to £5.32bn
UK personal lines GWP was up 2% to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Zurich invests $60m in cyber provider Cowbell
Zurich Insurance Group has invested $60m (£46.65m) in Cowbell, a provider of cyber insurance for SMEs.
Allianz updates motor trade product
Allianz has refreshed its motor trade product with the aim of reflecting the evolving needs of its customers and the technological changes that are affecting the sector.
Dual eyes up Bristol and Manchester for new regional offices
Dual is targeting Bristol and Manchester for the two regional offices previously promised this year, Insurance Age can reveal.
People Moves: 22 – 26 July 2024
Keep up to date with the latest insurance personnel moves.
Charles Manchester: Reflections on a career in insurance
Charles Manchester shares his reflections on the challenges and achievements during his time in the market as well as the outlook for MGAs and opportunities for the sector.
Which? finds 48% of people making claims experience at least one problem
Which? has called on the Financial Conduct Authority to take tough action against firms over claims handling failures, arguing consumers are suffering from “significant harm”.
UK pricing continues down – Marsh
Insurance rates in the UK fell 3% in the second quarter of 2024, continuing on the downwards trajectory from the previous three months, according to the latest research by Marsh.
IFB warns of increasing danger as ghost broking rises 6%
UK insurers reported a 6% rise in ghost broking activity on social media last year, according to the Insurance Fraud Bureau as it warned the threat of people being duped would continue to increase with the growth of financial strain.