Ecclesiastical claims no need for broker concern over results
Steve Wood, UK managing director, described the insurer’s half year performance, which saw a group underwriting loss of £14.4m and a 6% deterioration in UK combined operating ratio (COR), as “reasonable results in difficult market conditions”.
He added: “There’s no need for brokers to be concerned about [the COR] at all, we’re still strongly capitalised, our solvency is very secure. We’re better capitalised than most insurers in the UK market.”
He stated that the UK COR of 100.2% (H1 2011: 94.4%
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Podcast
The Insurance Age Podcast: 3 April 2020
Insurance Age commissioning editor, Laurence Eastham, and news editor, Ida Axling, discuss the top stories of the week.
Subscribe to our daily newsletter for all the latest news
Most read
- Grumpy Old Insurance Execs: Bunker, Cooter, Hanks and Smith on trading through a hard market
- FCA threatens intervention over BI claim deductions
- Hiscox COR soars to 114.6% and losses hit $138.9m
- Co-op hits out at Unite over Markerstudy deal claims
- UK Broker Awards – Meet the Shortlist – Broker of the Year
- People Moves: Round-up 3 - 7 August 2020
- GRP buys seven business books from Aon