Zurich's UK GI COR improves to 85.6%
The COR improved more than 9% points as UK CEO Tulsi Naidu expects to see growth stabilise going forward from efficiencies rolling through to the results.
Zurich UK has published its half-year results, posting strong growth in its general insurance business.
Operating profit at Zurich UK GI grew 144% from £76m in H1 2018 to £185m in H1 2019.
Gross written premium for the business stayed broadly level at £1.2bn. In addition, the combined operating ratio (COR) improved 9.9% over the period, falling from 95.5% to 85.6%.
Explanation
Tulsi Naidu, Zurich UK’s chief executive officer, downplayed the impressive growth percentage to Insurance Age: “The
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