Zurich UK boosts operating profits as GWP rises and COR improves
Zurich UK improved its combined operating ratio in property and casualty business to 91.7% last year from 93.8% in 2023.
The provider’s operating profit from the division jumped by 57% year-on-year to £411m.
The positive shifts came as P&C gross written premium ticked up 4% to £3.88bn with Zurich citing “strong growth” across all target segments.
In July 2023, it announced exiting regional and national broker personal lines channels to focus on high-net-worth through Zurich Private Clients, along with its MGA and partnership channels.
The firm updated that it had seen “good progress” in its retail division following
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