Media statement

February 27, 2025 (TORONTO, ON) – Insurer Aviva plc reported its full-year 2024 results today. Tracy Garrad, CEO of Aviva Canada had this to say about the Canadian performance: 

“2024 was a year of challenges, growth and important achievements. We delivered good underlying results that were impacted by record severe weather events, leading to a Combined Operating Ratio (COR*) of 98.5%, and double-digit growth of 10.6%. We continue to see a negative impact on our national auto insurance results due to the regulatory environment in Alberta, and are engaging with regulators to address cost drivers in the system.

I’m proud of how our people have showed up – being there for our customers when it really matters – from helping them recover from and become more resilient against extreme weather, to protecting drivers from vehicle theft and recovering stolen ones. As extreme weather events become our new normal, society must increase investments in resilience measures to better protect communities, and build a resilient Canada that is prepared for what is to come. 

We’ll continue to make the right choices, improve our performance, execute on our strategy, and keep the customer at the core of our decision making.”

[ends]

*All COR results cited are on an undiscounted basis.