Allianz CEO Holmes: ‘Head scratching’ rivals holding up commercial market hardening
Allianz UK CEO Colm Holmes has lambasted a couple of rivals for pushing “head scratching” commercial rates into the market and discounting to a point that is “excessive in extreme”.
Following a record year of profitability where Allianz UK reported a 29.5% increase in profit to £476.2m in 2025 (2024: £386.8m) on the back of an improved combined operating ratio of 93% (2024: 93%), he added that he did not expect the market to harden in commercial until the second half of the year.
Allianz UK saw its total business volume shrink by 0.3% to £4.66bn (2024: £4.64bn), but its personal lines operating profit jumped 69.2% with a 2.7% improvement in COR to 94.5% during 2025; and its
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