GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
The insurer’s combined operating ratio deteriorated to 97.2% compared to 91.7% in the same period last year.
Gross written premium, however, was on the up hitting £1.96bn (H1 2021: £1.86bn). The breakdown showed that personal lines ticked up from £1.22bn to £1.26bn while commercial lines GWP increased to £694m (2021: £630m).
GrowthColm Holmes, CEO Allianz Holdings, said: “I’m pleased with Allianz’s performance. We’ve seen strong trading in the first half of the year, although this was
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