30% premium growth sees Aviva UK&I PL arm overtake commercial at HY 2024
Aviva has reported that its UK & Ireland premiums increased 18% to £3,809m in the first six months of 2024 (HY23: £3,219m) with strong growth across all business lines, especially personal.
The operating profit was 25% higher at £287m (HY23: £230m) which Aviva attributed to improved underwriting profits and improved investment returns.
The UK&I undiscounted COR was 95.8% (HY23: 96.3%), and discounted COR was 92.2% (HY23: 93.1%).
Aviva’s UK&I personal lines premiums jumped 30% to £1,811m (HY23: £1,389m) with it adding the majority of the growth reflected “strong rating actions taken in the inflationary environment and new business, particularly from the Aviva Zero and PCW propositions
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