Co-op Insurance reveals trading loss for 2018

profit-loss-shutterstock-101550217

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

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: