Companies
Aviva Insurance sees profits soar by 125%
Provider said issues in processing personal injury claims outside of the courts is driving premiums higher despite government reforms
Aviva Insurance has reported an 125 per cent increase in profits for 2023, predominantly driven by higher interest rates, according to the company in its full-year results.
Operating profits jumped from €32 million in 2022 to €72 million for 2023 despite “challenging market” conditions, the insurance firm said.
Aviva’s combined operating ratio, a measure of profitability weighing claims, costs and expenses against premiums, held steady at 96 per cent from 96.1 per cent the year ...
