Zurich UK’s P&C operating profit drops to £226m in 2022
Zurich UK’s operating profit from property and casualty business fell £145m year-on-year to £226m in 2022 due to claims inflation and the impact of large losses.
The provider also noted that the prior year result of £371m had been “very strong”.
The combined operating ratio worsened to 95.5% from 86.5%. However, Zurich said the result reflected a “robust performance given the market conditions”.
Related Zurich UK reports £470m operating profitThe provider reported that the UK business grew 13% in its P&C division.
Gross written premium for the period ended 31 December 2022 jumped 19% compared to the year before to £3.7bn. According
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