Allianz COR approaches 100% as GWP grows by £22m
Provider's retail COR broached 100% mark.
Allianz has reported a combined operationg ratio (COR) of 99.8% for the first quarter of 2014.
This is compared with a COR of 95.2% for the same period of last year.
The provider saw gross written premium (GWP) grow from £506.6m to £528.3m.
Meanwhile, operating profit almost halved, from £46.8m to £24.7m.
On the commercial side of the business, GWP improved from £259.3m in the first three months of 2013 to £275.7m, while the COR worsened to 98.7% (Q1 2013: 95.1%).
In retail GWP climbed slightly
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