Allianz sees profits slide but maintains healthy underwriting result

andrew torrance

However, the insurer’s combined ratio of 95.9% is a much healthier underwriting result than most of its competitors who are struggling to keep their ratio below 100%.

Commercial lines GWP increased to £962.6m (£934.1m: 2009) but the combined ratio deteriorated badly by nearly 8 points to 94.5%. However, retail performed much better this year writing £701.1m in premiums (£654m: 2009) and producing a much improved combined ratio of 97.8% (101%: 2009).

Chief executive Andrew Torrance said he was

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