Allianz remains bullish despite 11% Q1 decline

Despite reporting an 11% decline in gross written premium at its recent 2006 Q1 Results, Allianz Cornhill has insisted that its "only writing business for profit" strategy is still working.

Chief executive, Andrew Torrance, maintained that "we will accept lower premiums in the short term to ensure a robust and sustainable future. If we have to go through short-term pain for longer gain by sticking to this strategy, then so be it."

The first quarter results showed that Allianz Cornhill's person