One pensions and discount car insurance giant has recently announced its half year profits have grown by 3 per cent in the UK in the wake of adding 670,ooo new motor car insurance customers since the beginning of last year.
The Aviva car insurance group, which makes use of actor Paul Whitehouse in its most recent marketing campaign, remarked that its profits improved to £709 million in the wake of a 14 per cent general insurance sales increase to £2.22 billion. Aviva added that this is the sixth consecutive quarter in which the insurer has experienced growth.
The new improvement follows on the heels of upward pressures on car insurance rate premiums across the length and breadth of the industry. Moreover, number of customers for the firm also surged due to an initiative where brokers receiving direct pricing from Aviva.
Despite this news, Aviva remarked that its combined operating ratio – a figure that measures its operating costs in a percentage of how much it takes in through revenue – actually increased by two percentage points to a total of 96 per cent for its general insurance business.
Across the entirety of the group, which has operational headquarters in North America and Europe, Aviva announced a 5 per cent operating profits increase totalling £1.38 billion across the first six months of 2011.
Chief executive officer for Aviva, Andrew Moss, was quite pleased to announce that the past six months have been quite successful for the car insurance gorup. Aviva has managed to beat every one of its operational targets during this time, Mr Moss added.