Zurich UK COR improves to 95.5%
GI business recovering from impact of discount rate hit as GWP stable and operating profit grows.
Zurich UK’s CEO Tulsi Naidu has hailed the H1 2018 numbers for the general insurance division as a strong result.
The numbers showed that the GI COR improved to 95.5%, significantly ahead of last year’s 99.2% (119.0% including Ogden impact).
In addition business operating profit also shot up to £75.9 million – up 24% on £61.1 million in H1 2017.
If the Ogden rate is taken in to account BOP increased 162%, up from -£123m in the same period last year.
GWP was stable at £1.2bn.
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