Allianz returns to sub 100% COR in 2016
Premium at insurer shrinks as profits rise.
Allianz has delivered a combined operating ratio (COR) of 96.4% for 2016.
The move marked a return to a sub 100% COR after it posted 102.6% in 2015 - the first time it had broken the 100% barrier for 51 quarters or nearly 13 years.
The insurer's gross written premium for the year dipped by 3.5% to £2.14bn (2015: £2.20bn) as profit increased markedly to £154m (2015: £36.3m).
Drop
The provider stated it had expected the drop in GWP.
It highlighted the decision to leave the direct motor and
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