Zurich reports improved GWP but COR in decline
Zurich has reported general insurance gross written premiums of $27.05bn (£16.97bn), for the nine months ended September 2011.
This is an increase of 9% on GWP for the same period of 2010, which was $25.53bn.
The general insurance combined operating ratio deteriorated to 98.8% for Q3 2011, compared to 97.7% for Q3 2010.
General business operating profit (BOP) for general insurance fell by 12% from $1.97bn for the nine months ended September 2011 to $1.73bn for the first nine months of 2010. In local currencies this represents a 17% reduction in operating profit.
Zurich said: “The sustained focus on margin enhancements
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