Allianz scores GWP, profit and COR hat trick

andrew torrance

Allianz UK has reported growth in both premium and profit and a sub-100% combined operating ratio (COR) for the third quarter of 2011.

The German-owned insurer reported 10% growth in gross written premiums (GWP) to £1,347.7m which produced an operating profit of £123.6m, up 3.8% on last year.

The COR remained at 95.8% a result which chief executive Andrew Torrance hailed as the 36th consecutive quarter of sub-100% COR.

In commercial lines, GWP was up over £18m to £740.5m and the COR improved to 95.1% (Q3 2010: 95.9%).

Mr Torrance said that the business was seeing some encouraging levels of premium growth in commercial motor but

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: