TIDMAV.
RNS Number : 7388N
Aviva PLC
25 January 2023
25 January 2023
Aviva plc UK Personal Lines briefing and 2022 General Insurance
update
Aviva plc ("Aviva" or the "Group") is today hosting an 'In
Focus' investor and analyst briefing on its UK General Insurance
("GI") Personal Lines business. The event, which commences at
10:00am (GMT), will be hosted by Charlotte Jones, Group CFO, and
presented by Adam Winslow, CEO UK & Ireland GI, and Owen
Morris, MD UK GI Personal Lines.
Today's presentation will focus on Aviva's leading UK GI
Personal Lines business, which has strong and profitable growth
opportunities in attractive market segments, particularly Retail
and High Net Worth. Our customer-centric business is diversified
across both products and distribution with deliberate, targeted
brand segmentation. With its strong performance track record, it
makes a key contribution to Aviva Group, providing cash generation,
operating profit, access to customers, and capital diversification.
This is underpinned by excellent technical foundations, including
in data science and machine learning.
Full year 2022 General Insurance update
Aviva's GI businesses in the UK, Ireland and Canada continued to
trade positively over the closing months of 2022, demonstrating the
clear benefits of our diversification across GI products and
geographies.
For full year 2022 we estimate a Group combined operating ratio
of c.94.6%(1) , consistent with the guidance we gave at our Q3
trading update in November. The Group's dividend guidance and
outlook for capital returns remain unchanged.
We continue to price appropriately for the high inflation
environment, in particular in UK Personal Lines, responding at pace
to emerging data and trends.
At a Group level, weather experience for the full year 2022 has
been broadly in-line(1) with our long-term averages ('LTA'), and
marginally above(1) LTA in the fourth quarter. Over the course of
2022, weather experience in the UK & Ireland was only
marginally above LTA (+0.4pp(1) ), whilst it was below LTA in
Canada (-0.9pp(1) , with no fourth quarter weather events). In the
UK we have been focused on supporting our customers during and
after December's freezing weather, for which we estimate a cost of
c.GBP50m.
UK Personal Lines presentation arrangements
Today's presentation and analyst Q&A will be live-streamed
on www.aviva.com , and a recording will be made available on the
website shortly after the event. Analysts are invited to attend in
person. Presentation slides will be released on Aviva's website
shortly before the event.
-ends-
Enquiries :
Analysts & investors:
Rupert Taylor Rea +44 (0)7385 494 440
Joel von Sternberg +44 (0)7384 231 238
Michael O'Hara +44 (0)7837 234 388
Media:
Andrew Reid +44 (0)7800 694 276
Sarah Swailes +44 (0)7800 694 859
Marion Fischer +44 (0)7800 693 219
Notes to editors :
-- We are the UK's leading Insurance, Wealth & Retirement
business and we operate in the UK, Ireland and Canada. We also have
international investments in Singapore, China and India.
-- We help our 18.5 million customers make the most out of life,
plan for the future, and have the confidence that if things go
wrong we'll be there to put it right.
-- We have been taking care of people for 325 years, in line
with our purpose of being 'with you today, for a better tomorrow'.
In 2021, we paid GBP30.2 billion in claims and benefits to our
customers.
-- Aviva is a market leader in sustainability. In 2021, we
announced our plan to become a Net Zero carbon emissions company by
2040, the first major insurance company in the world to do so. This
plan means Net Zero carbon emissions from our investments by 2040;
setting out a clear pathway to get there with a cut of 25% in the
carbon intensity of our investments by 2025 and of 60% by 2030; and
Net Zero carbon emissions from our own operations and supply chain
by 2030. Find out more about our climate goals at
www.aviva.com/climate-goals and our sustainability ambition and
action at www.aviva.c om/sustainability
-- Aviva is a Living Wage and Living Hours employer and provides
market-leading benefits for our people, including flexible working,
paid carers leave and equal parental leave. Find out more at
https://www.aviva.com/about-us/our-people/
-- As at 30 June 2022, total Group assets under management at
Aviva Group were GBP353 billion and our Solvency II shareholder
capital surplus at 30 September 2022 was GBP8.8 billion. Our shares
are listed on the London Stock Exchange and we are a member of the
FTSE 100 index.
-- For more details on what we do, our business and how we help
our customers, visit www.aviva.com/about-us
-- The Aviva newsroom at www.aviva.com/newsroom includes links
to our spokespeople images, podcasts, research reports and our news
release archive. Sign up to get the latest news from Aviva by
email.
-- You can follow us on:
o Twitter: www.twitter.com/avivaplc/
o LinkedIn: www.linkedin.com/company/aviva-plc
o Instagram: www.instagram.com/avivaplc
-- For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva
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