2021 Results and Financial Review
UK general insurance
Commercial lines
Personal lines
FY21
FY20
Change
FY21
FY20
Change
GWP (£m)
2,609
2,262
15%
GWP (£m)
2,334
2,377
(2)%
Underwriting (£m)
109
(117)
Underwriting (£m)
121
180
(33)%
COR
94.6%
106.4%
(11.8)pp
COR
94.6%
92.3%
2.3pp
PYD and weather*
3.6%
2.0%
PYD and weather*
(0.4)%
(1.1)%
COR excl. PYD and weather
91.0%
104.4%
COR excl. PYD and weather
95.0%
93.4%
•
Strong GWP growth of 15% driven by balance of new
business and retention, as well as rate increases
•
Strong improvement in COR driven by profitable new
business growth, rate environment and a reduction in
Covid claims in the period
(favourable) / unfavourable
•
GWP 2% lower - robust performance in adverse pricing
conditions and with lower volumes in Travel due to Covid
Personal lines COR increase driven by lower frequency
benefits vs 2020 partly offset by growth in higher
margin retail business and ongoing simplification
AVIVA
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