Allianz UK (Local) Financial ResultsQ1 2017Q1 2016Gross Written Premium£545.0m£547.3mOperating Profit£37.5m£ 47.4mCombined Operating Ratio96.7%95.9%
The change to the Discount Rate had a £58.3m impact on the company’s existing reserves which resulted in a restatement of the 2016 financial results on a local basis. The effect of the change was to reduce the 2016 profit number
The Association of British Insurers’ announcement that motor insurance premiums hit their highest recorded levels at the end of last year is another reminder that change is long overdue in the personal motor market. That’s coming but will it be enough? First up is the Prisons and Courts Bill, which seeks to bring premiums down by around £40 a year by tackling the whiplash epidemic. This will see a
Much of the Ogden discount rate commentary has focused on the impact on motor insurance claims but the reduction has equally serious implications for other lines of liability business. There is little doubt that payments relating to significant injury claims will rise, and that rates may need to rise in order to fund this increased exposure.
Allianz Insurance has appointed Bob Dawson to the position of claims major loss manager.
High net worth insurance specialist, Home & Legacy, has announced Andrew Reid ACII has been appointed to the role, head of claims.
Allianz celebrated the successes of its recent intake of broker scholars, by holding a graduation event at M by Montcalm, London.
Allianz Insurance has enhanced its Claims proposition by launching a video streaming platform, Allianz Site View, which enables customers to send images, video clips or conduct live video interactions with the insurer in support of their property claim.
Through its new partnership with international commercial law firm DWF LLP, Allianz is now able to offer its Commercial customers a broader spectrum of specialist free legal advice, as well as a host of free and discounted legal services.
The FIA Formula E Championship, the world’s first fully-electric single-seater racing series and Allianz, a world leading insurer, are proud to announce their partnership.
Allianz has refreshed its Directors and Officers proposition to offer broader coverage for businesses.
Allianz Insurance has made three senior management appointments to its SME and Corporate Partnership team.
Company Results EOY 2016 EOY 2015
Gross Written Premium (GWP) £2,141.0m £2,219.0mIFRS Operating Profit £154.0m £36.3mCombined Ratio (COR) 96.4% 102.6%
Statement from Chi