Strong quarter but profits down for Ageas
Ageas says it is continuing to recover from weather impacts earlier in 2014.
Ageas UK reported profits of £64.8m for the first nine months of 2014, down on the £73.3 reported for the same period last year.
Total COR also increased from 96.9% to 99.3% while income remained steady at £1.6bn in both 2013 and this year.
The reported third quarter net result of however hit £38.5 million (Q3 2013: £24.6m) while COR for the quarter improved to 96.6% (Q3 2013 98.0%).
Recovery
Andy Watson, chief executive of Ageas UK commented: "I'm pleased to report that we've seen a strong
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