Insurance Post

Zurich UKGI COR hits 109.5% amid £62m operating profit loss

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Zurich's UK general insurance business has reported a £62m business operating profit loss in its 2015 full-year results due to a high volume of large losses, and claims related to the end of year UK storms and floods.

The loss was a significant departure from the £212.9m profit recorded in 2014.

The UKGI combined operating ratio deteriorated to 109.5% - a 17.9 percentage point change on the 2014 result of 91.6%.

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