Ageas sees H1 2019 profit rise 70% after Ogden boost

Andy Watson

Ageas UK has revealed a 70% rise in net profit to £45.4m for the first six months of 2019 (H1 2018: £26.8m).

The provider also posted an improved combined operating ratio (COR) of 96.9%, compared to 99.0% in H1 last year.

Ageas UK chief executive officer Andy Watson said the rise in profit was a result of a one-off benefit following the change to the discount rate from -0.75% to -0.25%.

“At the end of the year we were still reserved in line with a -0.75% discount rate and that change to -0.25

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