Allianz UK's Q3 pre-tax profit falls 12% to £102.2m
CEO Jon Dye puts the fall down to a difficult private motor book.
Allianz UK chief executive Jon Dye has attributed a 12% fall to £102.8m in third-quarter pre-tax group profit (Q3 2014: £117.2m) to difficulties in its private motor book.
He said the insurer has taken corrective action in retail private car and increased premiums well ahead of claims inflation although it won't be until next year before the measures show through in its results.
Allianz's gross written premium (GWP) for this year's third-quarter was £1.68bn (Q3 2014: £1.64bn) while its combined
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