Ageas commercial COR dips to 100%
Barry Smith, chief executive at Ageas UK, has revealed that the provider’s combined operating ratio for commercial business improved to 100% in the first six months of 2012, from 104.3% in the same period last year.
Mr Smith confirmed to Insurance Age that the insurer would continue to focus on profitable growth in what he defined as a sluggish market and that Ageas had not grown in the sector as much as it had previously expected to.
Ageas announced a 4.4% rise in commercial gross written premiums to £81.8m (H1 2011: £78.4m) in its half year results.
"We need to concentrate on where we see profitable growth," he stated.
"We are encouraged by the improvement in the combined ratio but we have not grown by as
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