Ageas Retail revenue ticks up as profit rebounds
Ageas’ wholly owned broking subsidiary Ageas Retail grew post-tax profit by 20% in 2023 to £6.5m, switching back to growth after declining in 2022.
The result for the home, motor and travel insurance broker, which operates under a variety of brands including Ageas Direct and Rias, came as revenue rose year-on-year by 3.1% to £75.57m.
The figures, filed at Companies House, marked a recovery in both metrics. In 2022, revenue had dropped by 4% while post-tax profit had tumbled 56%.
According to Ageas Retail: “The increased profitability in the year [2023] was due to increased revenue from higher volumes and increases in average price, whilst
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