Fall in UK operating profit at Allianz
Insurer achieves 4.2% growth in revenue
Allianz has reported 12% drop in pre-tax operating profit to £56.5m for the first six months of the year from £64.2m in the same period of 2014.
However gross written premium rose 4.2% in the UK to £1.14bn (H1 2014: £1.09bn) as the combined operating ratio (COR) remained stable at 98% (H1 2014: 98.1%).
The division breakdown showed that the retail COR worsened to 102.5% from 100.3% at the start of last year.
Premiums rose from £534m to £565m across the two periods.
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