Aviva, one of the worlds biggest suppliers of insurance, have revealed that their UK insurance arm have made a good start to 2011, with first quarter sales topping one billion pounds.
The first quarter of the year saw net written premiums hit £2.69billion, an increase of 9% on the same quarter last year, and they were up 14% on the last quarter of last year.
General insurance sales in the UK were just over £1billion, up 20% on the same period last year, and the company saw huge increases in their motor insurance division. The company has now signed up an extra 580,000 new UK drivers to its books since the beginning of 2010.
Aviva’s operation ratio also improved from 97%, from 102% showing substantial improvement in their underwriting operations.
Life insurance sales were down however, with sales of £8.8billion down 14% on the same period last year.
“By making the most of our powerful combination of life and general insurance and by ensuring we put our customers at the heart of our business, I’m confident that Aviva will continue to thrive in 2011,” said group chief executive Andrew Moss.
Aviva also announced that they had been appointed as a preferred strategic partner for HSBC bank in Europe. The five year deal will see Aviva become HSBCs exclusive general insurance distributor for home, travel and creditor insurance and will run until 2016.