The provider reported a result after tax of £22.8m compared to £45.4m in H1 2019.
UK COR hit 106.3% for the first half of 2020 as GI CEO Colm Holmes points to a strong underlying performance despite the business remaining in cost-cutting mode.
The CEO said that as part of this there may be some market withdrawals and “difficult” decisions as she reaffirms Aviva’s commitment to brokers as UK COR soars amid Covid-19.
However commercial business sees GWP decline in H1 2020 numbers as provider predicts £80m Covid-19 BI hit.
The deal values Hastings at around £1.66bn as the provider also publishes half year results.
The provider has also reserved $232m for Covid-19 related claims as it reports H1 2020 numbers.
Provider expects Covid-19 premium slip of £110m for the group, including an estimated £81m impact in the UK & International business, as it also reveals a £33m loss on its UK and London market exit portfolios.
The motor insurer said it had continued focus on a strategy of prioritising underwriting profitability over volume whilst reflecting Covid-19 impacts using a data-driven pricing approach.
Provider expects its pandemic-related losses to amount to $170m as it takes underwriting action in its liability lines of business.
Welsh broker also reveals turnover increase as CEO Rhys Thomas states the company is "confident" it will emerge from the Covid-19 crisis stronger than before.
CFO Ryan Brown says the consolidator has a "very healthy pipeline" of future acquisitions, as PIB's GWP hits £986m.
The trade body said in its accounts that it was “indemnified against significant financial loss” and is now looking at how it can host future events.
The government-backed flood insurer paid out more than in its first three years combined, plus, it also welcomed changes to the scheme enabling discounted premiums.
Commercial director Nigel Phillips says performance was impacted by the "challenging economic and political climate".
The global insurer has estimated a $1.36bn hit arising from Covid-19.
But the business also saw a fall in profits as MD Tony Buss says provider has revised its expectations for 2020 due to the pandemic.
The results for 2019 showed a decrease in profits but GWP grew by 3.6% to £257m as broking division makes a loss.
Software house has also seen a dip in operating profit as results reveal it paid £10.8m for Canadian business Zycomp Systems last July.
Organisation has also seen an increase in membership volumes.
The insurer said most of its BI policies do not cover impacts arising from Covid-19.
The business highlighted Ebitda and acquisitions as it points to “limited” Covid-19 impact.
COR crept above 100% across all business lines in Q1 due to storms.
The provider published a Q1 trading update, the first to incorporate Allianz, LV and Legal & General, as it says it has made 200-plus Covid-19 claims pay outs.
The insurer also published a trading update which addressed the current Covid-19 business interruption dispute.