Co-op general insurance sees profit rise as GWP falls
Group losses total £2.5bn in 2013.
The Co-operative Group has reported a pre-tax operating profit for general insurance business of £33.6m for 2013, significantly ahead of the £3m achieved in 2012.
The division saw gross written premiums fall to £443.6m (2012: £555.7m) and its investment return decrease to £40.9m in the year from £74.8m in the previous 12 months.
However, the combined operating ratio improved markedly from the 110.5% reported in 2012 to come in at 99.7% for 2013. The claims ratio improved from 86.6% in 2012 to 69
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- RSA confirms trading structure ahead of NIG integration
- In Depth: Cyber risk and AI – friend or foe?