Aviva’s UK general insurance business made an operating profit of £242m in the first half of 2011, up 6% on the £229m it made in the same period last year.
The company’s UK GI combined ratio dropped two percentage points to 96% from 98%, which Aviva attributed to its focus on writing profitable business and a one-point improvement in the expense ratio to 10.5%.
General Insurance net written premiums, excluding health, increased 14% to £2.2bn. Including health, net written premiums increased 12% to £2.5bn from £2.2bn. Operating profit including health fell 3% to £261m from £268m.
Personal motor net written premiums increased 24% to £705m (H1 2010: £569m).
Aviva said pricing in both personal and commercial motor in the UK remained strong, with rate rises of 21% and 10% respectively. However, the company added that pricing in other key lines remained more subdued, with a 6% increase in homeowner rates and low single digits in commercial non-motor.
Aviva also highlighted its efforts to broaden its general insurance business, including plans to grow its motor insurance business, launch a new online offering on aggregators, and extending its partnership agreement with HSBC to 2016.
Aviva H1 2011 UK GI results in £m (compared with H1 2010)
- Operating profit: 242 (229)
- Net written premium (including health): 2,510 (2,241)
- Combined ratio: 96% (98%)
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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