Bright forecast for Allianz

Insurance Age staff
01 Sep 2004

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Allianz Cornhill revealed favourable weather and low catastrophe losses aided its solid performance across both commercial and personal lines (PL) in the first half of 2004.

The insurer recorded a 13.2% increase in pre-tax profits for the first half of 2004, compared to last year. In general insurance, gross written premiums reached £936.6m, up 2.3% from last year. Its overall pre-tax profit was £92.4m, with a 95.1% combined ratio - from 95.9% last year.

The company said that benign weather

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