Allianz Holdings reveals drop in GWP in first half of 2021
Provider points to continued impact from Covid-19 as well as competitive market conditions and the run-off of certain portfolios as it also reports a COR of 91.7%.
Allianz Holdings has reported a 6% fall in gross written premium to £1.86bn for the first half of 2021, compared to £1.98bn in H1 last year.
The provider’s operating profit also fell slightly to £169m (H1 2020: £179m), while its combined operating ratio improved to 91.7% (H1 2020: 92.7%).
According to Allianz the fall in GWP was due to a continued impact from Covid-19, as well as competitive market conditions and the run-off of certain portfolios.
Allianz
Looking at Allianz Insurance, GWP was
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