GWP slips to $2.39bn at QBE Europe in half year results
COR, excluding Ogden effect, worsened to 91.3% .
QBE’s European division reported a slight drop in gross written premium (GWP) to $2.39bn [£1.85bn] for the first six months of 2017.
This compared to $2.51bn for the same period in 2016.
The combined operating ratio (COR), not including the effect of the Ogden rate change, came in at 91.3% which was worse than the 88.3% achieved in the same period of 2016.
A footnote to the 2017 figures highlighted that the COR “excludes $156M one-off adverse impact on the group’s underwriting result due to
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