Insurance Post

Allianz cites competitive market conditions as first half profits fall 12%

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Allianz's UK pre-tax profits fell 12% in the first half of 2015 to £56.5m compared to £64.2m in the same period last year.

The insurer was hit hard by underwriting results in its retail business with the combined operating ratio deteriorating to 102.5% from 100.3% in the same period last year; retail gross written

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