Zurich UK results “reflect discipline”
COR improves to 89.5% as GWP falls 8.1% to £765.5m as business resolves to not “take on new business at any cost”.
Zurich UK has reported a 9.4ppt improvement in COR to 89.5 percent for the first half of 2016 in its general insurance division.
GWP however was down 8.1 percent to £765.5m (H1: 2015: £822.8m). Zurich stated in the results: "We remain confident in our continuing resolve not to take on new business at any cost in the face of a highly competitive market, an approach that is reflected in this result."
The insurer also noted that business operating profit also grew "significantly" to £126.5m
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