Profits and growth at Ageas
Ageas Insurance has revealed a 16.8% rise in gross written premiums to £822.5m and an improved combined operating ratio of 99.8% for the first nine months of 2011, compared to 104.9% in the same period last year.
The insurer claimed the improvements had been driven by developments in both personal and commercial lines.
Across personal lines, GWP increased in household business for the three quarters to £231.6m (2010: £177.2m) while private car grew to £360.7m (2010: £346.4m) and travel was up to £49.2m (2010: £44.5m).
The commercial sector saw a 30.9% rise in GWP to £156.7m (2010: 119.7m) with the insurer citing improvements in broadening its commercial underwriting portfolio across SME business and a
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