Profits up but GWP down at Allianz in Q1
Insurer has been “crystal clear” on ongoing support for brokers in personal lines, says Dye.
Allianz UK has posted a 1.5% drop in gross written premium (GWP) for the first quarter of 2016.
In the three months GWP dipped to £547.3m as the combined operating ratio (COR) improved to 95.9% (Q1 2015: 97.7%).
The operating profit soared to £47.4m from £33.2m in the same period of 2015.
Within the figures commercial lines delivered a 1.9% rise in GWP to £282m while personal lines reduced by 5%.
Commercial
The commercial COR came in at 89.8% which UK CEO Jon Dye described as pleasing and noted
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