Strong market competition dents Ageas total income

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The insurer blamed a 0.3% fall in total income to £511.3m on increasing competition in the market.

Non-life gross written premiums were down 0.7% £442.4m, while total inflows from its retail businesses fell 8.9% to £47.7m.

Andy Watson, Ageas UK chief executive commented: "It's very pleasing to see the strong rise in our profits and an overall improving performance in our combined ratio, in what is typically a tough first quarter for the industry.

"Our acquisition of Groupama Insurances is

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