Zurich UK has reported a business operating loss of £121m for the first half of 2017 as it took a hit from the Ogden rate change.
Excluding the impact of the new discount rate, it would have posted a business operating profit of £61.1m
The combined operating ratio (COR) deteriorated to 118.8%, which would have stood at 99.2% if the discount rate had not changed.
The insurer posted gross written premium of £1.21bn which it said was in line with the £1.23bn reported for the same
- Tasker Insurance names Robert Organ as new CEO
- ASA reveals insurance advertising complaints
- Ex Towergate and Bluefin boss Kenny Hogg joins Gallagher as Scotland lead
- Bennett Christmas buys Horsham-based Slade Edwards Insurance
- Confused.com sees profits halve for start of 2017
- Bollington's Paul Moors hails "excellent" results for 2016
- Staysure snaps up travel rival Avanti