Spencer warns tough broker action ahead
Aviva UK & Ireland general insurance chief executive Robin Spencer has warned it will have to take some “tough calls” on its broker relationships if the insurer is to reduce its commercial lines combined operating ratio to a sub-100% position in 2013.
Spencer said he is “hopeful” that CL can return to underwriting profitability in the next 12 months but to reduce the COR from its current level of 104% (2011: 105%) will also require further action
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