Weak UK results disappoint IAG
“Disappointing” was the word repeatedly used by Australian giant IAG about its struggling UK business, dominated by Equity Red Star at Lloyd’s that has been ravaged by bodily injury claims.
The insurer talked of "continued disappointing, albeit improved, performance in the UK".
It added: "Despite a significantly improved result, notably in the second half, the overall performance of the United Kingdom (UK) division for the year has been disappointing.
"This primarily reflects the rate of continued bodily injury claims inflation exceeding expectations."
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