Ecclesiastical delivers first underwriting profit for five years
Insurer delivers improved COR but profit dips with lower investment returns.
Ecclesiastical has reported a combined operating ratio of 95% for UK business in the first half of 2014, a slight improvement on the 95.6% achieved in the first six months of 2013.
The UK gross written premium fell to £118.6m (H1 2013: £153.8m) as the group's GWP also fell to £164.4m (H1 2013: £205.7m).
The group's COR improved substantially to 97.5% from 106% in the comparable period of the previous year.
Profits
However, the pre-tax profit dropped to £18.4m (H1 2013: £24.4m) as investment
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 info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Allianz tipped to put in £5bn bid for the AA
Allianz has been circling the roadside assistance firm and Top 100 UK broker AA, setting the scene for a potential £5bn bid, recent reports have suggested.
Lloyd’s improves underwriting result but investment dip trims H1 profit
Lloyd’s cut its combined ratio to 90.8% in the first half of the year as gross written premium rose against a backdrop of market softening.
Martin aims for top corporate spot with Aviva Premier
Aviva leader Dave Martin explains why after expansion in digital, SME and mid-market, targeting top of the table in the corporate insurance space is the logical next step on the journey, and how its new proposition will deliver for the changing needs of brokers and clients.
Geo’s Renovation Underwriting speeds up for brokers
Private client renovation risks with a premium below £3,000 that meet the automatic approval criteria can now be priced and bound with immediate effect through Renovation Underwriting’s portal without needing manual underwriter review, the business has confirmed.
Avantia adds Accredited alongside Axa in new dual-capacity structure for Homeprotect
Managing general agent Avantia Group has added Accredited Insurance (UK) as a new co-insurer alongside Axa creating a panel for specialist home insurance business Homeprotect.
Coalition ups UK cyber limits to £20m
Specialist insurer Coalition is now offering up to £20m in cyber limits to large businesses in the UK following its expanded relationship with Allianz Commercial.
Podcast: Reid and Clegg present Double Indemnity – episode 14, John O’Roarke and Phil Bunker
Former LV and Churchill managers John O’Roarke and Phil Bunker join Stuart Reid and Toby Clegg for the latest episode of the Double Indemnity podcast series.
Aviva launches redesigned Aviva Premier in expanding mid-market push
Aviva is ending the £250m turnover and £250,000 premium limits for UK firms in its regional offices as it targets more growth with brokers in larger mid-market business, Insurance Age can reveal.