Zurich UK stung by "exceptional' commercial loss
Zurich UKGI's operating profits for the first nine months of 2012 have dropped to £57m, down from £72m posted for the same period last year.
The insurer said it had been stung by ‘an exceptional commercial loss', along with the UK's wettest summer for a century and higher pension charges which saw its combined operating ratio jump five points to 101.1%.
The provider had previously referenced higher pension charges in its half-year results.
Gross written premium (GWP) for the nine month period of £1.27bn was down by 2.2% - which the insurer attributed to an anticipated dip in personal lines contribution.
However, Zurich insisted that
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