Co-op insurance makes £7m loss
Company says insurance division's fall in profits due to difficult market conditions and planned exits.
The Co-operative Group saw a drop in revenue and profit in its insurance division in its yearly results for 2014.
Revenue fell to £371m, down from £476m, and profits also dropped from £36m in 2013 to a loss of £7m. COR also increased to 106.9% a jump from 100.5% in 2013.
The company said that the business had experienced difficult trading conditions with premiums dipping across home and motor. It also pointed to a "conscious decision to exit low profit areas".
The group said it is now pursuing a
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