Pandemic pushes Ecclesiastical to 2020 loss
GWP in the UK and Ireland business grew by 7.6% while its COR worsened to 92.5%, as broking division saw modest profit rise.
Ecclesiastical Insurance has reported a loss before tax of £15.7m in 2020, primarily driven by impacts from the pandemic.
This is compared to a pre-tax profit of £73.3m in the preceding year.
The general insurance underwriting business further revealed a combined operating ratio of 95.1%, a deterioration from the 91.1% posted in 2019.
Looking at the UK and Ireland, underwriting profits decreased to £12.3m (£20.4m), while its COR worsened to 92.5% (2019: 86.8%).
However, gross written premium
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