Ageas profit after tax slumps by half

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Ageas has recorded a drop in its post-tax result of £22.6m and a slip in GWP from £609.5 to £603.8m for the first half of 2020.

The COR deteriorated slightly to 97.8% (H1 2019: 96.6%). Excluding weather impacts the COR was 93.9% (2019: 96.6%).

The provider said that COR improved over the second quarter as a result of reduced motor claims volumes but, while still sub 100%, has increased year on year as due to the Q1 2020 weather events.

It also flagged a strong second quarter net result, down

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