Allianz scores GWP, profit and COR hat trick
Allianz UK has reported growth in both premium and profit and a sub-100% combined operating ratio (COR) for the third quarter of 2011.
The German-owned insurer reported 10% growth in gross written premiums (GWP) to £1,347.7m which produced an operating profit of £123.6m, up 3.8% on last year.
The COR remained at 95.8% a result which chief executive Andrew Torrance hailed as the 36th consecutive quarter of sub-100% COR.
In commercial lines, GWP was up over £18m to £740.5m and the COR improved to 95.1% (Q3 2010: 95.9%).
Mr Torrance said that the business was seeing some encouraging levels of premium growth in commercial motor but
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