Zurich's UK GI COR and profits improve while GWP falls by 3%
Zurich’s UK general insurance business has reported a combined operating ratio (COR) of 96.5% for the first three months of 2013.
This is an improvement of more than 4% compared with the same period of 2012, when the COR stood at 100.8%.
Business operating profit increased from £22.6m in the first quarter of 2012 to £34.7m in the same period of this year, representing a 54% jump.
However, gross written premium reduced by around 3% to £311.1m (Q1 2012: £319.4m).
Steve Lewis, CEO for Zurich’s UK general insurance business, commented: “It’s great to be able to report a positive set of numbers against the ongoing economic and
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