Allianz UK boosts GWP in 2024 as operating profit up 52%
Allianz UK has reported a 5.5% rise in total business volume last year to £4.66bn with profit surging ahead.
The growth, measuring premium received for both insurance and non-insurance operations, has followed topping £4bn of premium for the first time in 2023.
Operating profit rose 52% to £367.8m in 2024 as the combined operating ratio improved year-on-year from 96.9% to 95%.
In commercial lines, excluding the engineering business, the COR came in at 95.4% with £1.47bn of premium.
These results were achieved despite a continuing backdrop of higher claims costs and softening market conditions
According to
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