Major losses put Zurich's commercial COR at 'wrong side of 100%'
Mr Lewis, CEO of the provider's UK general insurance (GI) business, confirmed that the commercial COR was “the wrong side of 100%”, but said there was no trend to be drawn from the major losses made last year.
He cited a factory lost in an arson attack, a “very significant” motor loss arising from a motorway pile-up and a school burning down after being struck by lightning as three large major losses.
“That’s the nature, and the volatility, of things when you write big commercial risks, it’s
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