Ageas UK results hammered by Q4 2016 loss
Insurer drops from €29.5m annual profit in UK for 2015 to €56m loss.
Ageas has reported a €56m [£47.45m] loss in the UK for 2016 driven by a €109.5m deficit for the fourth quarter of the year.
The insurer made an annual profit of €29.5m in 2015.
The provider detailed that it had been impacted by costs of €27m for closing its site in Glasgow, a move that cost 521 people their jobs at Kwik Fit.
Ageas also posted a €25m loss from its Special Risks unit and set aside €55m for the anticipated review of the Ogden discount rate.
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