Net written premiums up for Aviva in Canada during third quarter

Aviva PLC has reported a 1.6-point deterioration in Canada’s combined operating ratio and a 6% year-over-year increase, on a constant currency basis, in net written premiums, for the first nine months of the year, in general insurance in Canada.

Worldwide, London-based Aviva reported net written premiums, in general insurance, of £1.788 during the three months ending Sept. 30, down 5% (but unchanged on a constant currency basis) from £1.876 billion in Q3 2013. The British pound is currently trading at about $1.80.

In Canada, Aviva reported net written premiums, in general insurance, of £558 million in the third quarter of 2014, down 6% from £592 million in the same period in 2014 but up 7% on a constant currency basis. The pound had been trading at less than $1.60 throughout most of 2013.

In its interim management statement, Aviva reported income and expenses of foreign entities at average exchange rates, using 55 British pence to the Canadian dollar for the first nine months of 2014 and 63 pence to the Canadian dollar for the first nine months of 2013.

In Canada, net written premiums in general insurance were £1.548 billion for the first nine months of this year, down 8% (but up 6% on a constant currency basis) from £1.718 billion in 2013.

Worldwide, for the first nine months of 2014, Aviva reported net written premiums in general insurance of £5.545 billion, down 6% (but up 1% on a constant currency basis) from £5.902 billion in the first nine months of 2013.

The combined operating ratio, in Canada, was 96.8% for the first nine months of this year, up 1.6 points from 95.2% in the same period in 2013, “principally due to losses from adverse weather and fire in Western Canada,” Aviva said in a release. Worldwide, Aviva’s combined operating ratio improved by a point, from 96.9% in the first nine months of 2013 to 95.9% year-to-date in 2014.

“Aviva’s turnaround is delivering,” CEO Mark Wilson stated in a release. “Our key metrics have improved again.”

Net written premiums worldwide, including health, were £6.247 billion for the first nine months of 2014, down 5% (or 1% on a constant currency basis) from £6.604 billion during the same period in 2013.

For the third quarter, Aviva’s written premiums, including health, were £1.958 billion this year, down 5% (or unchanged on a constant currency basis) from £2.055 billion in 2013.