Allianz ups motor rates by 24% in 2009
Allianz's UK profit rose 5.2% to £203.7m in 2009 despite a 5.4% fall in gross written premium in its retail division to £579.9m as a result of corrective action on private motor rates, which increased by almost a quarter.
Andrew Torrance, Allianz chief executive officer, said the retail division did well overall, reducing its underwriting loss by £39m year-on-year to £7.8m.
He added that Allianz would remain a player
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