Ageas drives down COR
COR drops for Q1 and net profits rise to £12m thanks to benign weather impact.
Ageas UK reported a combined operating ratio (COR) of 99.4% for the first quarter of 2015, an improvement on the COR 106.1% it posted for the same period last year.
The results also showed net profits for the quarter of £12m following a loss of £4.5m in Q1 last year.
The insurer said the results reflected benign weather impact.
Total income increased to £459.2m (2014: £418.4m) an increase Ageas put down to a disciplined underwriting approach in tough market conditions. However GWP fell from £459
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