Ageas reveals 20% UK GWP growth in 2023
Ageas has reported a 20% hike in UK gross written premiums to €1.49bn (£1.27bn) for 2023, as profits in the European division rose.
The insurer sold the renewal rights to UK commercial business to Axa in 2022 in a £47.5m deal. It noted that for the 2023 results the “scope-on-scope” growth in the UK was actually 47%.
According to Ageas, it was driven by strong growth in customer numbers and “continued strong technical pricing discipline in the face of inflation”.
The provider did not supply a full breakdown of UK figures.
EuropeIn the European division, where the UK sits alongside Portugal, France and Turkey, but not Belgium
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Meet the MGA feature: Arc Legal
Arc Legal CEO Lee Taylor outlines the value in having a supportive parent of the scale of AmTrust; and why it makes sense to keep an eye on legislation and social changes in order to innovate and develop new products.
Review of the Year 2024: Commercial Express’s Duncan Pritchard
Duncan Pritchard, managing director of Commercial Express would like to leave the term underinsurance behind in 2024, reflects on the amount of time he spent trying to get Oasis tickets, and why it would make perfect sense to appear on TV’s Survivor.
Aviva claims Acturis API first with broker roll out planned for Q1 2025
Aviva has become the first insurer to create a claims application programming interface for integration with software house Acturis.
i-Wonder and Compare The Market team up on bicycle insurance
i-Wonder has partnered with Compare the Market to launch the aggregator’s first bicycle insurance comparison service.
People Moves: 9 – 13 December 2024
Stay in the loop with the latest personnel moves in insurance.
Review of the Year 2024: Markerstudy’s Gary Humphreys
Gary Humphreys, group chief underwriting officer at Markerstudy, hails the completion of the Atlanta deal, dreams of having the MGA’s brand adorn the Tottenham Hotspur Stadium and mulls sitting on the sofa and doing Channel 4’s Gogglebox.
Sicsic FOI uncovers insurance firms’ £2.7m S166 bill
Insurers and insurance intermediaries paid a total of £2.7m for Financial Conduct Authority-commissioned skilled persons reviews in the financial year 2023/24, according to a Freedom of Information request by Sicsic Advisory.
JMG expands into North Wales with Anchor buy
JMG Group company, Butterworth Spengler Insurance Brokers, has bought Anchor Insurance, growing its presence into North Wales.