Allianz UK posts improved 2017 operating profit and COR

cash-in-hand

Revenues at the insurer tick up by 2%.

Allianz has reported a combined operating ratio (COR) in the UK of 97.8% for 2017, an improvement on the 99.2% achieved in 2016.

The result was mirrored in the operating profit which increased to £121.3m from £96.2m in the previous 12 months.

The insurer also revealed that it had suffered a £22m hit from the change in the discount rate.

The uplifts came as gross written premium nudged up by 2.1% to £2.19bn (2016: £2.14bn).

The breakdown of the figures showed that the commercial lines book

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