Zurich in UK rate warning
Zurich Financial Services this morning reported general Insurance gross written premiums and policy fees of US $26.3 bn, an increase of 3% (in local currencies), and a combined ratio of 94.8%, an improvement of 6.1 percentage points for the first nine months of 2006. However, it warned the greatest rating pressure had come in the UK.
In a statement it said: “Strong underlying performances in all major markets, aided by relatively low levels of natural catastrophes, generated a business operating profit of US $2.8 bn, up 105%. This
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