Aviva UKGI profits boosted 40% amid surging investment returns
Aviva UK and Ireland general insurance operating profits increased 40% to £230m in the first half of 2023 (2022 H1: £163m).
The bulk of Aviva general insurance profit growth in the UK alone was driven by investment returns, almost tripling to £135m, compared with £46m in the first half of last year.
Underwriting performanceDespite challenging inflation, Aviva grew premium and profits.
While Aviva’s UK’s undiscounted combined ratio deteriorated from 95.2% to 96.4%, it grew the whole UK book’s gross written premium 14% to £2.98bn (HY22: £2.63bn).
Underwriting profits rose to £160m (H1 2022: £119m).
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