Ageas UK sees profit jump in 2018

Bag of money

Ageas UK’s net profit for 2018 jumped to £76.7m for the full year, from £25.4m in 2017.

In addition its combined operating ratio (COR) improved to 96.8% in 2018 (2017: 103.2%), while its operating profit increased to £82.0m (2017: £20.3m).

However, its total gross written premium (GWP) for the general insurance business, excluding Tesco Underwriting, decreased slightly from £1.36bn in 2017 to £1.23bn in 2018.

Looking at the individual business lines, GWP for the motor division also

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