Ageas UK moves back into profit in 2017
COR improves to 103.2% while GWP falls slightly to £1.36bn.
Ageas UK has posted a net profit of €29m (£25.5m) in 2017, compared to a loss of €156m in 2016.
The provider stated that its profit had been affected by a residual Ogden impact of €46m.
Its combined operating ratio (COR) for 2017 improved to 103.2% (2016: 112.2%), and the insurer noted that excluding the impact from Ogden its COR was 99.5%.
Meanwhile its total gross written premium (GWP) in its general insurance business, excluding Tesco Underwriting, was £1.36bn in 2017 (2016: £1.41bn).
Mot
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