Allianz UK reported a Q3 2018 combined operating ratio (COR) of 96.0%, an improvement on the 98.5% posted in the same period last year.
Gross written premium (GWP) fell slightly to £1.53bn from £1.59bn but operating profit increased to £113.6m (2017 Q3: £84.6m).
CEO Jon Dye commented: “Profits are up 34.3% over the same period in 2017 and the combined operating ratio has improved by 2.5% compared to this time last year.
“The revenue position reflects the transfer of Allianz’s personal home
- Folgate teams up with MS Amlin for 2019
- Vivek Banga to leave Gallagher for Polaris
- Motor insurance pay-outs soar to record levels
- Bridge breaks through £10m barrier
- Profile: Peter Cullum, Towergate founder and GRP chairman
- InsurTech Futures: Start-up With Jack authorised by the FCA
- Blog: Should brokers be concerned?