NU sees 19% growth in net written premiums
In the UK Norwich Union has recorded a 7% increase in net written premiums to £2.7bn and a 19% growth in net written premiums from its direct operation to £434m in the first six months of the year. The company said that better than expected weather experience “has benefited our result by £20m (2003: £30m) and we have achieved an improved COR of 98% (2003: 99%).”
In personal lines the combined operating ratio improved to 99% and it said it continued to achieve small rate increases (2% for motor and homeowners) and cost efficiencies.In a statement NU added:
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