Allianz Australia has reported gross written premium growth of 9% to $3.4 billion for the 12 months ending December 31.

While not revealing the level of claims, Allianz Australia MD Terry Towell says the combined operating ratio for the year is now 97.6%.

“This was a great outcome given the large number of significant natural catastrophes in 2011,” he said.

“We have been able to meet or exceed all our 2011 financial targets including for growth and profit in such a challenging economic and natural catastrophe environment, while still achieving a market-leading expense ratio.”

Mr Towell says the insurer will continue to grow in 2012 and its latest sponsorship agreements – which include naming rights to the Sydney Football Stadium – will “enhance the Allianz brand in Australia”.