Allianz Holdings reported a profit of £112.8m for H1 2023, down 5.5% on the £119.4m recorded in the same period last year. Gross written premium was up 7.1% at £2,095.6m. In personal lines, GWP was up 7.6% £1,032.1m while speciality lines GWP jumped 10.5% to £728.1m. Commercial lines GWP was up 4.8% at £728.1m.

Colm Holmes (pictured), CEO of Allianz Holdings, said: “There is no doubt that the industry will continue to face very difficult trading conditions. Inflation is not going away anytime soon and, all the time it persists, it will continue to impact our business and customers and we will need to remain disciplined when it comes to rates, particular in motor and home.

“Despite these market challenges, I’m proud of what Allianz has achieved. Our trading has remained robust and our focus will remain on being technically excellent, ensuring our pricing models are sustainable and offering competitive solutions for our customers.”

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