Allianz reports fall in operating profit
Pre-tax IFRS operating profit has dropped 6.1% to £88.3m for the first half of 2009 while GWP climbs 2.9% to £825m
Allianz UK’s pre-tax IFRS operating profit has dropped 6.1% to £88.3m for the first half of 2009, from £94m for the same period last year.
The insurer reported a 2.9% increase in gross written premiums to £825m for the first six months of this year, compared to £802m for the same period in 2008.
The overall combined ratio improved 0.8%, from 95.7% in the first half of 2008 to 94.9% in the first six month of this year.
However, the commercial division’s combined ratio deteriorated by 3.7%, to 91
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