Ecclesiastical sees profit and COR improve
Group underwriting losses shrink as COR improves.
Ecclesiastical Group has revealed a pre-tax profit of £66.9m for 2013, significantly ahead of the £37.8m delivered in 2012.
Across the group investment returns were also up at £73.8m (2012: £56.6m).
However the business reported an underwriting loss of £8.2m which was still a major improvement on the £24.6m underwriting loss in the previous year.
The group's combined operating ratio (COR) was still above 100%, at 102.9%, although again this was better than the 108.5% declared in 2012.
Turnover
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