Ecclesiastical swings from underwriting loss to profit in 2014
UK COR improves to 94.1%.
Ecclesiastical has reported a combined operating ratio for UK business in 2014 of 94.1%, an improvement on the 95.3% achieved in 2013.
The result came as the group revealed that turnover dropped to £350.7m (2013: £417.9m).
General insurance gross written premium fell 16% to £328.6m (2013: £392.6m).
Across the group, pre-tax profit dropped to £48.2m from £66.9m in the previous 12 months.
The provider put this down to strong underwriting results but lower investment returns - which came in at £37
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