Ageas posts Q1 loss for 2014
Provider cites impact of weather costs as being behind losses.
Ageas UK has reported a loss of £4.6m for the first quarter of 2014 compared to a profit of £19.4m in the first three months last year.
The provider's combined operating ratio (COR) deteriorated to 106.1% (Q1 2013: 98.6%) as gross written premium increased to £526.7m (Q1 2013: £511.3m).
The company said that the loss reflected the impact of storms and floods that hit the UK in the first quarter.
A breakdown of the group figures showed that Ageas Insurance's net result was also down with a £4m
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