Allianz Animal Health Insurance “pleased” with performance

Allianz Animal Health Insurance’s chief executive Andrew Torrance has said that he is “pleased” with the business performance of the firm during the first half of 2009.

The professional’s comments come following the release of the company’s financial results during this period – which show that its international pre-tax operating profits fell by 6.21 per cent to 88.3 million pounds in the six months to June 30th.

Additionally, Allianz’s UK pre-tax operating profit decreased from 94 million pounds to 88.3 million pounds – the equivalent of 6.1 per cent.

However, its gross written premiums rose by 2.9 per cent to 825 million pounds, the results show.

Mr Torrance stated: “Rate momentum must be regained as we progress through the remainder of the year if insurers are to make acceptable underwriting profits in 2010.”

Last month, Allianz Animal Health Insurance’s trading company Petplan Equine opened nominations for its Equine vet of the year award.