UK general insurance operating profit increases 26%, group results show

PPI complaints surge

Zurich’s UK general insurance business reported a combined operating ratio of 95.5% in 2014, group results show.

This is a 2.9 percentage point improvement on the 98.4% it reported in 2013.

The UK general insurance business operating profit in 2014, as reported by the group this morning, was $282m (£185m), up 26% on the $224m reported for 2013.

The underwriting profit more than tripled to $119m from $38m.

Gross written premium increased by 7.7% to $2.8bn (2013: $2.6bn).

More to follow.

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