Results news: Fortis to plough on with rebranding despite loss

Barry Smith chief executive Ageas UK

Fortis UK has confirmed it will complete its rebrand to Ageas by the first quarter of 2011, after announcing a £1.8m loss during Q1 2010 (Q1 2009: £4m profit).

The insurer listed severe weather events in January, rising claims in the private motor market, one-off set-up costs related to the new Tesco Bank partnership and lower realised capital gains as reasons for the loss.

Fortis UK's non-life combined ratio deteriorated to 110.2% (Q1 2009: 108.9%) while non-life gross written premiums increased by 16.8% to £230.5m (Q1 2009: £197.4m).

In personal lines, the insurer's household and travel book grew to £57.7m and £13.3m respectively (Q1 2009: £45m and

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.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: