Ageas UK sees “modest deterioration” in commercial business

andy watson

Ageas UK CEO Andy Watson has confirmed that the change in the Ogden rate had contributed to “one or two large losses” in its commercial business.

The insurer boss, whose firm reported a 68% fall in profit for the first half of 2017 to €11.2m [£10.2m], said however that it was nothing to be concerned about.

Not willing to disclose the numbers the commercial business achieved, he told Insurance Age that they were reported “under other”.

This section delivered revenue of €93.6m and a combined oper