Aviva ahead of schedule with refocusing plan

Caitlin Morrison
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AVIVA boss Mark Wilson said yesterday that the UK insurer’s turnaround plan is running ahead of schedule, with new business in the life arm up by 14 per cent to £247m in the first three months of 2015.

On the general insurance side net written premiums grew by one per cent from £845m in the first quarter of 2014 to £855m, while combined operating ratio improved to 96.4 per cent from 97.7 per cent.

Peter Ward, dealer at London Capital Group, said “progress in underlying operational performance is visible” and added: “Aviva’s turnaround plan is on track, with synergies and savings from this newly enlarged insurance behemoth expected to start bearing fruit in coming months.”

Aviva’s shares rose by 2.63 per cent yesterday.

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