Aviva grows 2017 general insurance business but combined ratio deteriorates
Aviva has expanded net written premiums in the general insurance operations by 11 percent year on year to £9.14 billion in 2017.
At the same time, the combined operating ratio in general insurance deteriorated to 96.6 percent from 94.2 percent over the period.
Overall, the group operating profit increased 2 percent year on year to £3.07 billion in 2017.
“Our largest market, the UK, has gone from strength to strength, growing sales, market share and profit,” said CEO Mark Wilson.
“For Aviva, the UK is a dependable and growing business. Aviva has broad-based growth, with six of our eight major markets delivering double-digit profit improvement. We now have a collection of strong and growing businesses.
“This year, we expect to deploy £2 billion of excess cash, including £900 million in debt reduction, in excess of £500 million of capital returns to shareholders and about £600 million for bolt-on acquisitions.”
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