# GWP slips to $2.39bn at QBE Europe in half year results 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 the