Allianz sees premiums decline but profits rise
Insurer Allianz Cornhill saw gross written premiums decline in the first half of 2005 over the same ...
Insurer Allianz Cornhill saw gross written premiums decline in the first half of 2005 over the same period last year. There was a significant decline of 23% in GWP in personal lines supplied by intermediaries, largely due to pulling out of the Broker Network in May 2004, and also as a result of competition in the motor market.
Andrew Torrance, chief executive of Allianz Cornhill, said the trend is moving towards direct underwriting in personal lines, with a rise of 4% in this area. Also in
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