Profit fall for Ageas
Insurer blames adverse weather for profit decline to £21.4m and COR which deteriorated to 102.0%.
Ageas has blamed adverse weather on falling profits and a deteriorating COR for 2015.
Its results for 2015 showed that net profit fell to £21.4m from £80.4m in 2014.
The insurer noted weather impacts of £46.1m due to the storms in December and also pointed out that it received a one-off benefit which helped to push the overall underlying result to £61.7m.
Combined operating ratio (COR) deteriorated from 99.8% in 2014 to 102.0% for the full year 2015. Total income also fell from £1.98bn to £1
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