Zurich UK Life reports 15% increase in operating profit

Zurich said this was a strong result set against a backdrop of continued market volatility and a larger than expected number of corporate claims. However, annualised Premium Equivalent (APE) of £431m is 7% below prior year. Meanwhile, retail platform volumes have bounced back after the initial impact of the Brexit vote and the general market volatility. The Whole of Life product line continues to perform strongly and Group Income Protection sales are also up. Anne Torry, head of Zurich UK Life, said: "Our retail and corporate protection businesses in particular made excellent progr...