GWP grows despite profit dip
Allianz Insurance has seen a slight drop in its pre-tax operating profits, coming in at £41.1m in th...
Allianz Insurance has seen a slight drop in its pre-tax operating profits, coming in at £41.1m in the first quarter of 2009, compared to £43.3m from the same period in the previous year.
It reported an improved group combined ratio, however, of 96% on £393.8m of gross written premium (GWP), down from 97.1% in Q1 2008.
The strength of the business remained in its commercial lines division, having brought in £245.4m GWP and a combined ratio of 92.2%, an improvement from £226.5m and 93%
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