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Allianz Ireland posts $10 million operating loss in Q1

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Insurer Allianz Ireland reported an operating loss of €9 million ($10 million) in the first quarter of 2016, reported The Irish Times.

The insurer's combined operating ratio increased to 112.2% from 100.1% in the fourth quarter of 2015. The increase in Allianz's combined operating ratio "is further evidence of the difficult backdrop for Irish insurers," an analyst said. The insurer's gross premiums increased 19% to €164 million during the period.

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