Ecclesiastical UK & Ireland COR balloons to 106.6%
Ecclesiastical Insurance’s combined operating ratio in the UK and Ireland shot up to 106.6% in the first half of 2023 from 94.5% in the same period of 2022.
The division swung to an underwriting loss of £6.5m, reversing a profit of £4.8m in the first six months of 2022.
£288.2mAcross the group, which also includes Canada and Australia, GWP rose to £288.2m from £261.9m
According to the insurer, the figures were driven by large losses following a fire at St Mark’s Church in London in January, and a £4.2m deterioration in prior year liability claims.
However, improved investment returns boosted the UK & Ireland general insurance business
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