Improved GWP for Allianz's UK non-life operation
Allianz has reported gross written premiums (GWP) of €525m (£450m) for its UK property casualty insurance operations for the three months ended September 2011.
This was a 13% increase on GWP for the same period of 2010, which stood at €463m.
Allianz attributed this boost to “positive volume growth in our motor business, both in retail and commercial lines”.
Operating profit was up 8% to €53m for the three months ended September 2011, compared to €49m for Q3 2010.
Combined operating ratio (COR) for Q3 2011 had improved to 94.9% from 96.8% for the three months ended September 2010.
COR for the nine months ended September 2011 was 95.8%, no change from
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