Ecclesiastical posts losses for 2011

steve-wood

The insurer’s combined operating ratio deteriorated to 105.4% last year, from 102% for the previous 12 months.

General insurance gross written premium (GWP) also slipped, from £474.4m in 2010 to £465m last year, and the company reported an underwriting loss of £16.1m. This was a further decline on the 2010 underwriting loss of £5.9m.

However, the company did report a UK underwriting profit of £7.6m, and a COR of 96.3%.

UK GWP was up at £326m for 2011, compared with £303.4m for 2010.

Steve Wood

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