Profits down at Ageas
Insurer posts improved second quarter results as weather impacts half year figures.
Ageas UK has delivered reduced net profits of £26.3m for the first half of 2014, down 46% on the £49.1m achieved in the first six months of 2013.
The provider's combined operating ratio deteriorated to 100.7% for the period (H1 2013: 96.3%) as gross written premium was stable at £940.4m (H1 2013: £936.5m) for non-life business.
However, the insurer highlighted that the second quarter had seen it achieve a profit of £30.8m and COR of 95.5%, a significant improvement on the 106.1% in the first
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