QBE Europe posts improved COR of 89.1%
Insurer highlights GWP growth after stripping out currency effects.
QBE Europe delivered gross written premiums (GWP) of $4.39bn [£3.11bn] for the year ended 31 December 2015, down 3% on the previous year.
Net earned premium at the provider dropped 12% to $3.45bn (2014: $3.93bn).
However the provider highlighted that GWP actually increased by 5% on a constant currency basis.
The insurer's combined operating ratio (COR) improved from 94.3% in 2014 to 89.1% for 2015.
The underwriting result also rose by $154m to $377m as the insurance profit jumped by $119m to
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