Zurich UK's overall earnings on a like-for-like basis grew 143% to £260m during 2018 - from £107m in 2017 - while combined ratio (CR) improved to 94.9% from 102.3%.
For life, business operating profit (BOP) reached £123m for 2017 - up 115% - compared to 2017's £57m figure, while annualised premium equivalent (APE) grew 10% - £455m compared to 2017's figure of £415m in 2017 - and new business value (NBV) of £55m showed a 17% increase (£47m in 2017).
General insurance (GI) BOP last year was £137m and GI gross written premium (GWP) reached £2,386m.
"Zurich has delivered a strong result in the UK and I'm very pleased with how the business has developed over the last 12 months," said Tulsi Naidu, Zurich's UK CEO. "2018 was a significant year in our transformation and it is gratifying to see the all-round improvement reflected in the results."
"This is the first step in our journey as we build a simpler, more digital business across both Life and GI" she said, "allowing us to offer excellent propositions and service to customers and intermediary partners."
The 2018 results reflect investment by Zurich into its Life Protection Platform, which came with a two new products - income protection and multi-fracture cover - and updates to its critical illness offering.
"The Life Protection Platform is a superb example of how we are systematically building capability," said Naidu. "Advisers and customers demand choice, convenience and need 24/7 access - the platform offers just that.
"We are very pleased with the development of our UK business in 2018," concluded Naidu. "We are investing in our people, in our digital capabilities and in new office locations - all of which will improve the service we offer. We are well placed competitively, have good momentum and look forward to continued progress in all areas of our business during 2019."
