Allianz profit up and ratio down
In its results for the year ending 2009, Allianz UK has seen a 5.2% boost in IFRS operating profit to £203.7m (2008: £193.6m)
Gross written premium (GWP) rose by 3.7% to £1588.1m (2008: £1531.2m) while combined ratio went down by 2.3 percentage points to 92.9%.
In a divisional breakdown, commercial GWP increased to £1008.2m (2008:£918.6m) and the combined ratio dropped to 87.6% (2008:86.9%).
In retail, while the combined ratio dropped by 8.2 percentage points to 101.4%, the GWP also dipped to £579.9m (£612.6m).
Chief executive officer Andrew Torrance said: "I am very pleased to report that the company delivered both
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