Ageas UK posts rising profits and improved COR
But the provider, which recently announced a restructure, revealed falling GWP for the first nine months of 2018.
Ageas UK has posted a rise in net profit to €61m (£53m) for the first nine months of 2018, from €25m in the same time period in 2017.
However, the provider’s gross written premium (GWP) fell slightly to £896.0m (9M 2017: £984.5m) while revenue remained relatively flat at €1.4bn (9M 2017: €1.6bn).
Its combined operation ratio (COR) improved to 97.5% from 103.7%, which the provider stated was a return to pre-Ogden levels.
Motor
Splitting the results up into divisions, Ageas UK’s motor GWP fell
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