Zurich's UK profits and GWP dip as COR passes 100%

Arrow going down

This is compared to the £163.3m BOP reported for 2011.

The provider stated that the profit was impacted by a “significant increase in large commercial losses and pension charges”.

Gross written premiums [GWP] also fell by 2% to £1.7bn. The insurer attributed this to the “continued challenging market conditions in personal lines”.

And the business’s combined operating ratio (COR) went up by 3% to reach 100.3%.

Steve Lewis, CEO for Zurich’s UK GI business, said the insurer’s top-line results were

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