Co-op’s insurance business, CIS General Insurance, made a trading loss of £29m in 2018, compared to £21m in the preceding year.
Markerstudy bought Co-op’s underwriting arm in January in a deal worth £185m. The transaction is expected to complete in the summer.
According to Co-op the loss was largely caused by increased cost of home and motor claims following the Beast from the East.
Co-op detailed that the deal with Markerstudy includes a 13 year agreement to distribute motor and home
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