Aviva UK General Insurance
Current position
- Market leading position, with a 14% market share
- Multi product and multi channel distribution
- Pricing and underwriting discipline
- Efficient use of capital
- Operational efficiency
- Flattening the impact of claims across the cycle
- Maximise scale benefits
- Expense management
2008 Performance (UK GI only)
- General insurance operating profit of £566m
- General insurance COR of 99% (2007: 106%)
- General insurance net written premiums (NWP) of £4,981m (2007: £5,440m), down 8%
- Expense ratio improved to 12.1% (2007: 13.9%), reflecting benefits from cost saving initiatives
Distribution
Diversified portfolio of products and distribution channels
Strategy
There are seven strategic priorities:
- Win the customer
- Win the broker
- Building core insurance capability
- Claims inflation busting
- Delivering the promise of scale
- Lean manufacturing
- Win our people
View “UK General Insurance: Insurance Excellence in UK GI, ‘Focus on Profit’” presentation from the 2008 Aviva plc Investor and analyst briefing on Aviva Investors and UK GI.