Ageas UK enjoys 17.3% net profit rise
Ageas UK reported a net profit increase of 17.3% to £49.1m for the first half of 2013, up on the £41.9m posted for the same period of 2012.
The insurer saw its combined ratio marginally improve to 98.5% (H1 2012: 98.8%), fuelled largely by a strong household performance.
Net profit for Ageas Insurance also rose by 16.6% to £34.1m (H1 2012: £29.2m).
Household (87.5%) was the only core line of business to make an underwriting profit in contrast to motor (100.7%), accident and health (106.9%) and commercial and special risks (103.7%).
Tough
While motor saw a slight improvement in loss ratio the combined ratio worsened from the 96.4%
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