Zurich UK improves on "all key measures" - Results

Emmanuel Kenning
clock

Insurer claims "all key measures" have improved in past 12 months.

Zurich UK has reported a 2% rise in gross written premiums to £841m for the first six months of 2014 (H1 2013: £826m).

In addition to growing the business, the provider also delivered an improved combined operating ratio of 95%, a three point improvement on the result in the same period of last year.

The insurer's business operating profit was also better at £88m, up 7% on the comparable period of 2013.

This result, Zurich said, reflects a positive claims experience in its protection business.

Dave Smith, CEO for Zurich's UK general insurance business, commented: "All of our key measures have improved compared to the same position in 2013.

"This has been achieved by an excellent underlying performance, offsetting things like the weather losses in the first quarter, a degree of strengthening in historical long tail liabilities, and unrelenting competition.

Smith continued: "We have seen strong growth in our commercial lines businesses, with growth in personal lines broker business offsetting expected reductions due to us withdrawing Zurich-branded products from aggregator sites. I expect these trends to continue in the second half of the year."

He concluded: "I'm delighted with the progress we are making. Our focus on consistency and sustainability for our customers and brokers mark Zurich out as an excellent long term partner."


More on Long Term Care

Government outlines £1 billion of social care spending plans

Government outlines £1 billion of social care spending plans

£500 million to be spent over next three years on improving housing

John Brazier
clock 02 December 2021 • 3 min read
Government narrowly wins vote on social care reform amendment

Government narrowly wins vote on social care reform amendment

Vote in House of Commons passes 272-246

John Brazier
clock 23 November 2021 • 2 min read
Social care living costs will not count towards cap total government reveals

Social care living costs will not count towards cap total government reveals

“A real blow for people with less income and savings”

John Brazier
clock 18 November 2021 • 2 min read

Highlights

The Rising Stars of Protection: Lauren Hygate

The Rising Stars of Protection: Lauren Hygate

“It all comes back to those real life stories that get shared”

John Brazier
clock 06 January 2022 • 7 min read
Blue Monday and beyond: The whole wellbeing proposition

Blue Monday and beyond: The whole wellbeing proposition

Latest COVER webinar

COVER
clock 04 January 2022 • 1 min read
The Top 20 Stories on COVER in 2021

The Top 20 Stories on COVER in 2021

The most-read news stories of last year

John Brazier
clock 04 January 2022 • 6 min read