Aviva's UK COR worsens as net written premiums fall by 5%
Aviva has revealed a combined operating ratio (COR) of 98% for its UK general insurance business in the first quarter of 2013.
This is a 1% deterioration from the COR of 97% reported in the first three months of 2012.
Aviva’s group COR remained stable at 96%.
The UK general insurance business reported net written premiums of £923m, down 5% from the same period of last year when the provider posted net premiums of £974m.
The provider highlighted that across the group operating expenses had fallen by 10% to £769m (Q1 2012: £852m).
Mark Wilson, Aviva CEO, commented: “Aviva is a turnaround story and these results
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