QBE Europe sees GWP drop while COR stays flat
January and February UK floods cost provider over £85m.
QBE’s Europe business has reported gross written premium (GWP) of $2.7bn (£1.6bn) for the first half of 2014.
This is a 13% reduction on the the $3.1bn reported for the same period of last year.
The company attributed the decrease to exiting of non-core and poorly performing businesses and heightened competition.
Combined operating ratio (COR) for Europe remained flat at 95.6% while insurance profit before tax rose $3m to $111m.
The provider does not report separately on its UK business, but it
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk