Zurich UK GI sees £20m GWP drop while profit and COR improve
Zurich UK’s general insurance (GI) business has reported a £20m drop in gross written premium (GWP) for the six months to June 2013.
The provider posted a GWP of £826m for the period, compared with £846m for the first half of 2012.
Operating profit improved by 42%, to £81m, which the insurer attributed to “a keen focus on expenses and continued underwriting discipline - assisted by lower weather losses in the UK”.
And combined operating ratio (COR) also improved, from 99% in the first six months of 2012, to 94.5%.
Steve Lewis, CEO for Zurich’s UK GI business, stated: “I’ve made no secret of the fact that we will keep our
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