Watson “not concerned” by Ageas results

andy watson

Profits fall for 2015 but CEO says that COR would have performed 4.2% better were it not for UK December storms and floods.

Andy Watson, Ageas UK CEO, has advised that he is "not concerned" about the falling profit and deteriorating combined operating ratio (COR).

Results for 2015 showed a net profit fall to £21.4m (2014: £80.4m) and the COR worsened to 102.0% from 99.8% the previous year.

Watson remarked that, were in not for the December floods and storms in the UK, the insurer's COR would have performed 4.2% better at 97.8%.

He commented: "In 2015 the biggest factor was the impact of the weather. We've provided

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 copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: