Ageas' retail profit remains static while COR continues to improve

Barry Smith

The insurer said this had been driven by good customer retention, portfolio growth, add-on revenues, growth in partnership income and the addition of Kwik Fit Insurance Services (£17.6m).

Revenue excluding Kwik Fit Insurance Services increased 7.5% compared to the same period last year and the acquisition has added a further 600,000 customers to Ageas.

Overall the insurer's non-life combined ratio has improved to 102.0% in third quarter; 104.9% year to date; 106.5% at half year 2010; 110.2%

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