LONDON – British insurer Aviva on Wednesday maintained its dividend guidance and capital returns outlook as it reported a positive end to trading for the year in its general insurance unit.
The company said it expects the group’s full-year combined operating ratio to be around 94.6%, in line with guidance given at its third-quarter update.
“We continue to price appropriately for the high inflation environment, in particular in UK Personal Lines, responding at pace to emerging data and trends,” the insurer said in a statement.
One of Britain’s biggest motor and home insurers, Aviva estimated December’s adverse weather conditions in the UK to cost around 50 million pounds ($61.65 million), and said it was continuing to support customers following the cold snap.
Over the course of 2022, it said its weather experience in its UK & Ireland business was only marginally above long-term averages whilst its Canadian business actually recorded lower than long-term averages with no fourth quarter weather events.
($1 = 0.8110 pounds)