Allianz reports improved GWP, profit and COR for Q1
Allianz Insurance has reported gross written premium (GWP) of £506.6m for Q1 2013.
This is a 7% increase on the £473.6m GWP posted for the same period last year.
Allianz’s profit before tax also increased, from £34.9m to £46.8m, and combined operating ratio (COR) improved by almost 2%, moving from 97.1% for Q1 2012 to 95.2% for the same period this year.
The insurer’s commercial arm reported GWP of £259.3m (Q1 2012: £253.3m), and the commercial COR went from 96.3% to 95.1%.
This was attributed to both underwriting expertise and a lack of adverse weather claims during Q1 2013
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