Commercial lines hurt Allianz's Q1 COR
Allianz has reported UK Q1 gross written premiums up 6.8% over same period in 2011 and a marginally worse combined operating ratio of 97.1% giving the firm its 37th consecutive quarter with a sub-100% COR.
GWP was £473.6m (2011: £443.5.m) and pre-tax profit was £34.9m (2011: £34.4m). The COR of 97.1% had worsened from 96.9%.
In commercial lines Allianz UK said its GWP dropped to £253.3m (2011: £254.0m)
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