Zurich UK GI faces ‘a struggle ahead’ as H1 profit falls by 50%
Business operating profit for Zurich’s UK general insurance business halved to £50m in the first six months of 2015 (H1 2014: £100m) as the insurer suffered a higher than average number of large losses, only partially offset by benign weather.
Gross written premium was also down by £18m to £823m - from £841m 12 months ago - which the group blamed on "persistent market challenges across all our UK businesses".
Large losses, including an
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Throwback Thursday: Record fire loss; Sedgwick buys broker
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when fire claims surged and Sedgwick was buying a broker.
Serial fraudster jailed for exaggerated bag claim
A man has been sentenced to two years in prison after pleading guilty to fraud by false representation and breaching a Serious Crime Prevention Order.
Collaboration is the only way to close the travel claims gap
Mike Brown, head of fraud at law firm Weightmans, argues that without shared claims data, travel insurers remain exposed to opportunistic fraud that costs the industry millions.
Storm Goretti sees Crawford’s claims levels triple
Crawford and Company has reported a tripling of its claims frequency in the aftermath of Storm Goretti, which hit the UK last week.
Pet insurance’s widening gap: More products but less providers
Pet insurance product numbers are soaring while provider consolidation, rising vet fees and shifting cover trends make the cover increasingly complex for consumers, Defaqto’s latest analysis shows.
Crawford & Co to sell legal services arm to law firm
Loss adjusting and claims management firm Crawford & Company has entered into a ‘process’ with specialist insurance law firm HF, which will see the latter buy a major part of the assets of subsidiary Crawford Legal Services, Insurance Post has learned.
Embedding carbon accountability in claims
With extreme weather driving record claims, Ben Blain, head of property at Verisk Claims, explains how insurers must now measure and cut carbon in the claims supply chain in order to turn net-zero ambition into operational reality.
60 Seconds With... Charles Taylor’s James Cranmer
James Cranmer, training programme manager at Charles Taylor Assistance, blends a love of learning, tech and tidy spaces.