AIG Europe COR soars to 111.8% in 2016
Insurer reports pre-tax loss of £171.1m for the year but flags improved figures for first quarter of 2017.
AIG Europe has posted a combined operating ratio (COR) of 111.8% for year ended 30 November 2016, up from 98.2% the previous year.
The insurer also reported a loss before tax of £171.1m compared to profit of £408.5m in 2015. However income grew to £4.19bn from £3.96bn.
Within this a breakdown showed that net premiums written (NPW) rose 3% to £3.66bn (2015: £3.55bn).
The insurer detailed it has seen a “strong performance” from personal insurance and liability and financial lines which was
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