Dye criticises "craziness" of private motor rates
CEO warning over cheap private car premiums.
Allianz chief executive officer Jon Dye cited the “craziness” of the private motor market as he criticised the level rates had dropped this year.
It came as the insurer posted an operating profit increase of 12% and an overall combined operating ratio of 95.7% for the first three quarters this year.
Although assessing that the provider’s results were a “good story in what remains a difficult market”, Dye warned: “Private car has got too cheap too quickly, we are prepared to let the volume go.
“W
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