Norwich Union issues trading statement
Aviva has reported its general insurance business is on track to “meet or beat” its target group combined operating ratio of 98%.
Andrew Moss, group chief executive, said: “The UK general insurance market continues to be competitive and we remained focused on profitability, and on reducing complexity in our products and processes.”
In its interim management statement for the first quarter of 2008, Aviva announced worldwide group sales rose 2% to £9.4bn. The company reported that its overall balance sheet was strong after “minimal exposure” to the adverse credit market issues and exposure to equities reduced last year.
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