Ageas takes catastrophe hit
COR crept above 100% across all business lines in Q1 due to storms.
Ageas reported a loss for the first quarter of 2020 of £2.7m compared to a profit of £12.4m in the same time period in 2019.
COR also soared to 107.1% (up from 95.5% in 2019) with the provider laying the blame for the deterioration across the board on exposure to Storms Dennis and Ciara.
The provider suggested that the UK net result reflects an impact of £23.5m from storms Ciara and Dennis across the home, motor and commercial lines of business. This compares with a strong first quarter in
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