Results dip for Allianz amid claims inflation and Ogden losses
CEO Jon Dye said the business is "still in good shape" despite the slip in performance.
Jon Dye, CEO at Allianz, has attributed the company’s mixed year so far to the Ogden rate and high claims inflation.
Gross written premium at the insurer reached £1.49bn for the first nine months of 2019. This was a decline of 2.8% on the £1.53bn reported for the same period in 2018.
Similarly, operating profit fell 12.0% from £113.6m to £100.0m.
The combined operating ratio deteriorated slightly from 96.0% to 96.5%.
In a briefing call with journalists, Dye explained: “It’s obviously a
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