Ecclesiastical reports £59.7m loss after Covid-19 hit
GWP was up by 9% in the first half of 2020, while the provider's COR worsened to 101.1%.
Ecclesiastical Insurance has posted a pre-tax loss of £59.7m for the first six months of 2020.
This is compared to a pre-tax profit of £42.8m in H1 2019 and the provider stated that the loss was due to the impact of Covid-19 on financial markets including an investment loss of £48.9m.
Its underwriting loss for the time period was £1.3m (H1 2019: profit of £9.5m), while the provider’s combined operating ratio for H1 2020 deteriorated to 101.1% from 91.4% in the first half of 2019.
According to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
End of Year Review 2025: Corin Underwriting’s Andy Hurrell
Corin Underwriting CEO Andy Hurrell outlines the view a softening market rewards discipline; raises an eyebrow about the number of MGAs doubling down on scale over specialism; and advises rather than reacting to the crowd, back your underwriting judgement.
Ex-Jensten duo to launch SME MGA with Mission
Managing General Agent incubator Mission has announced that it has reached an agreement to support a new team in launching Kovrilo, a UK MGA that will provide a range of commercial insurance products tailored to SME clients.
Hockey named Ecclesiastical director of schemes and partnerships as Withers leaves
Ecclesiastical has hired David Hockey as director of schemes and partnerships, as Chris Withers steps down.
Zurich enhances offering for UK businesses with international operations
Zurich’s regional teams in nine hubs can now provide multinational insurance for UK business classified as mass risks with exposures in seven European Economic Area territories, Insurance Age can reveal.
End of Year Review 2025: Iprism’s Bradley Harmer
Bradley Harmer, chief commercial officer at Iprism, notes an influx of new capacity providers and MGAs entering an already saturated space and hails the promotion of Georgina Davis as a Zurich regional head at 28.
Start-up broker Pelican’s MD praises ‘transformative’ Aviva support programme
Chris Braniff, managing director of Pelican Insured, has made changes to all of the broker’s processes following taking part in Aviva’s Future Leaders Programme.
People Moves: 1 – 5 December 2025
Keep up to date with the latest personnel moves in insurance.
End of Year Review 2025: Granite Underwriting’s Jay Rennie
Jay Rennie, head of specialist products at Granite Underwriting, calls out the withholding of claims histories in the fleet space and dusts off the bucket hat, cagoule and samba trainers to spend an evening with Liam Gallagher.