Equity owner reports UK loss
Insurance Australia Group (IAG) has reported a loss of AU$7m (£4.77m) for the first half of the financial year 2012 for its UK division.
The figure released by IAG, the owner of Equity Red Star, was an improvement on the AU$60m lost in the previous six months by the division and far ahead of the AU$119m deficit for the same period a year ago.
The insurer also revealed that in the six months to 31 December 2011, its UK arm produced a combined operating ratio of 102.8%, an improvement from 127.7% in the previous six months.
Gross written premiums for IAG's UK division - the group also owns commercial brokers Barnett & Barnett along
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