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Profits up at Ageas in 2014

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Insurer’s COR slips to 99.8%.

Ageas UK has posted a rise in net profit to £94.7m in 2014 from £85.2m the year before.

However full year results from the insurer revealed that total income for the group dropped to £2.1bn from £2.12bn in 2013.

Within the group, Ageas Insurance revealed a drop in its net result to £59.1m (2013: £69.5m) which it put down to some large losses in motor and integration costs after buying Groupama.

Gross written premiums were flat at £1.39bn (2013: £1.41bn).

Motor
Motor income held up at £817m (2013

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