Aviva reports Full Year Results
Aviva Canada’s recovery continues with a COR of 97.8% for 2019
March 5, 2020 (Toronto, Ontario) – Global insurer Aviva plc reported its annual results today. Jason Storah, CEO of Aviva Canada had this to say about the Canadian performance:
“Aviva Canada delivered a solid turnaround in 2019, reporting a combined operating ratio of 97.8% (a 5.3pp improvement vs. prior year). This is a significant improvement compared to last year, but still remains below historical levels for our Canadian business. Our improved claims settlement results, combined with a reduction in claims frequency and severity and lower CAT activity, were key contributors to this improvement. We also benefited from enhanced pricing sophistication, and market conditions played a positive factor.
The takeaway for me is simple, our hard work over the last two years is clearly improving the trajectory of our business. I believe Aviva Canada can be an industry leader and we will continue on this journey to make our business better every day, focusing on strong insurance fundamentals, and providing superior customer outcomes.”
For a full overview of Aviva plc results, the global press release is available here.