Ecclesiastical's group profits treble as UK performance improves
Ecclesiastical saw its group pre-tax profits treble to £24.4m for the first half of 2013, up on the £8m posted for the same period last year.
The insurer's underwriting losses also softened to £8.9m [H1 2012: £14.4m] while its combined operating ratio (COR) improved to 106% [H1 2012: 109.9%].
General gross written premium (GWP) however dropped by 17% to £205.7m [H1 2012: £240.7m] with turnover also declining by 17% to level off at £221.5m [H1 2012: £259.3m].
Meanwhile, the provider's UK COR progressed markedly to come in at 95.6% [H1 2012: 100.2%] although UK GWP fell 15% to reach £153.8m [H1 2012: £177m].
Boosting Ecclesiastical's
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