Ecclesiastical doubles underwriting loss as COR worsens

michael tripp

This is more than double the loss of £6m reported in the same period of 2011.

The group’s combined operating ratio (COR) also deteriorated, from 104% in H1 2011, to 109.9% in the first half of 2012.

The UK COR was superior at 100.2% for the first six months of 2012, however this had still worsened by more than 6% compared to the first half of year before.

Pre-tax profit more than halved to £8m (H1 2011: £16.8m), although gross written premium (GWP) was up, at £240.7m, compared to £235.2m

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