Zurich UK GI reveals H1 loss after Covid-19 claims hit £140m
CEO Tulsi Naidu points to positive working relationships with brokers throughout a "time of great stress" as she maintains that the provider is "very well positioned" for the future.
Zurich UK has reported a business operating loss of £35m in its general insurance division for the first half of 2020.
The provider stated that this included £133m of Covid-related items, adding that excluding Covid-19 it would have achieved a business operating profit of £98m.
The business posted an operating profit of £185m in its GI division in H1 2019.
In addition, its combined operating ratio worsened to 103.4% including Covid-19 impacts. Zurich noted that its COR on an underlying basis
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