Watson “not concerned” by Ageas results
Profits fall for 2015 but CEO says that COR would have performed 4.2% better were it not for UK December storms and floods.
Andy Watson, Ageas UK CEO, has advised that he is "not concerned" about the falling profit and deteriorating combined operating ratio (COR).
Results for 2015 showed a net profit fall to £21.4m (2014: £80.4m) and the COR worsened to 102.0% from 99.8% the previous year.
Watson remarked that, were in not for the December floods and storms in the UK, the insurer's COR would have performed 4.2% better at 97.8%.
He commented: "In 2015 the biggest factor was the impact of the weather. We've provided
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