Allianz UK reserves and profit take discount rate hit in Q1
Changes to the Ogden discount rate had a £58.3m impact on Allianz’s existing reserves and resulted in a £10m slump in profits during the first three months to March.
The insurers UK business delivered a profit of £37.5m for the quarter, a drop of over 20% from the £47.4m profit delivered in the same period last year.
The divisions combined operating ratio hit 96
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