Allianz Holding’s year-to-date gross written premium (GWP) has increased by 100%, according to the insurance firm’s quarterly trading update.
This latest figure currently stands at £2.99bn, which is double the year-to-date GWP of £1.49bn as of the same period last year.
Some £1.42bn of GWP came from Allianz Insurance, while the other £1.57bn was contributed by LV= General Insurance.
Allianz completed its acquisition of the remaining 51% of LV General Insurance Group in January this year.
Jon Dye, chief executive of Allianz Holdings, said: “2020 continues to present unprecedented challenges as we face the ongoing impact of Covid-19. I’m very proud of how our business has adapted throughout the crisis to meet the demands of this evolving situation.
“We have worked extremely hard to maintain service levels and deliver for our customers and brokers, and this is reflected in the positive feedback we have received from the market.
He added: “At the same time, it is important to recognise that there are many other external issues facing our business and it is essential we are ready to meet those.”
Steve Treloar, CEO of LV= General Insurance, said: “I’m pleased with the results we’ve delivered in the third quarter.
“It’s most certainly been an eventful three months both from an industry perspective and within our own business but our people have continued to maintain their focus on ensuring our customers get great products and an excellent service which I’m incredibly proud of.”
He added: “We have strong foundations as a business and I’m confident that we’re very well positioned for the future.”